Typically required in litigation or negligence cases. It may also assist you in tax or estate planning.
What's the purpose of a retrospective valuation?
A Retrospective Valuation may be required from 1982 for capital gains tax, non-domicile taxation or possibly in a negligence/litigation case. This valuation service provides a valuation which pre-dates the surveyors inspection.
This requires expert knowledge of the area and market over a period of time corresponding to the disputed valuation. Arnold & Baldwin’s local experts have the length and breadth of experience to provide valuations on this basis.
What is capital gains tax?
Capital gains tax (cgt) is payable when you sell an asset that has increased in value since you bought it. The rate varies based on a number of factors, such as your income and size of gain. For residential property it may be 18% or 28% of the gain (not the total sale price).
What is non-domicile tax?
A non-domicile is a uk resident whose permanent home, or domicile, is outside of the uk. Key to non-dom tax status is that an individual must pay uk tax on uk earnings, but need not pay uk tax on foreign income or gains unless they bring that income back to the uk.