Tax return: UK Value of property

Finance, Taxes, Banking, Insurance and Retirement
1
Hi all,

I have a tax advisor organising my tax return and he is asking me for the value of my flat in the UK. Does anyone know where I can obtain this? I pulled a land registry report for him where it states the sale price but he explained that this is not the ́registered ́value. I am beginning to think that I should really find a tax advisor that can better guide me with the UK system.

Any guidance would be greatly appreciated!

Meggs

2
You will have to enlist the services of a valuer. Probably better than an online valuation.If you have a real estate agent they should do it for free.

3
There is no "registered value" in the UK land registry, just the transaction value. Personally I look on rightmove, find a number and take 10K off it and Zurich have never questioned it.

4

Yep, I did similar, looked at other properties in our area and what they were going for and then just gave the tax office a figure based on that, they’ve never questioned it.

5
Same here. You just have to explain that there is no official registered value in the UK.

6
Zoopla is usually quite accurate on value - if a neighbour in a similar house has sold recently the land registry releases the price paid in 3 months.

Unless a home has not changed hands in the last few years they usually have a value that is monitored every few weeks.

7
Skip the tax advisor and read the tax form. It clearly says in Zug to put X percent of purchase price as the tax value.

I am yet to find a tax advisor I am happy with. I've found that some just can't be bothered with additional allowable deductions as more work. A friend even had them not tell them about child care deductions that was on the front page in the local paper. I try, I get advice then I bring my own deductions that they had said I couldn't deduct in our initial meeting but I read the actual rules myself.