Red Book Valuation
Professional, RICS-regulated property valuations trusted by HMRC, courts, lenders and legal professionals for residential and commercial.
What is a Red Book Valuation?
The Red Book valuation is a professional valuation of property or land carried out by an RICS registered surveyor. It provides a trusted, unbiased valuation report that adheres to stringent professional standards outlined in the Red Book itself.
Red Book Valuations carry significant weight with HMRC, courts, lenders and other professional bodies, making them the gold standard for formal property valuation in the UK.
Do I Need a Red Book Valuation for Probate?
Yes. When a person passes away, their entire estate must be valued so that the executor of the will has the right to carry out the wishes of the deceased. This includes their money, property and possessions — known as a probate property valuation.
Although you're not legally obliged to use a chartered surveyor, HMRC strongly recommends it. You will need this report even if you're planning to sell the property, as you could be liable for Inheritance Tax if the value of the estate is above the current threshold.
How Long Does a Red Book Valuation Last?
The valuation report is valid for three months but can be extended by an additional three months if required. This extension must be requested within the first two weeks of the expiry date.
When Would You Need a Red Book Valuation?
A Red Book valuation should be carried out whenever you need a formal valuation for tax purposes or legal proceedings. Common circumstances include:
- Tax planning purposes
- Calculating probate
- Calculating Capital Gains Tax
- Transferring assets into a SIPP pension fund
- Court proceedings such as divorce (Matrimonial Valuation Report)
- Shared ownership
- Disputes being resolved through mediation or arbitration
- Rent reviews or negotiations
- Mortgage and secured lending purposes
- Help to Buy redemption
- ATED (Annual Tax on Enveloped Dwellings)
- Lease extension and enfranchisement
What is the Purpose of a Red Book Valuation?
By having a Red Book valuation, you can be sure that you are receiving an accurate valuation that is free from ambiguity or bias. The report will have been prepared to a high professional standard by an RICS Registered Valuer whilst adhering to good practice as per the guidelines set out in the Red Book.
If you're looking for a trusted valuation of a property or building, choose an RICS registered Valuer such as Samson Consultants Chartered Surveyors. We provide valuations ideal for mortgages, probate, divorce, taxation purposes and accounting.
Why Samson Consultants Chartered Surveyors?
RICS Registered Valuers
All our valuations are carried out by RICS Registered Valuers who must adhere to strict ethical standards and the guidelines set out in the Red Book.
60 Years Combined Experience
Our surveyors use 60 years of combined experience to provide accurate Red Book valuations for residential and commercial property across London and the South East.
Fast Turnaround
We aim to provide complete peace of mind with prompt, professional service. Reports are delivered efficiently without compromising on accuracy or quality.
At Samson Consultants Chartered Surveyors, we aim to be direct, open, and honest. As members of the Royal Institution of Chartered Surveyors (RICS), we must abide by strict ethical standards. We deal with complex matters for you to give you a common-sense opinion. Our surveyors are always more than happy to spend time discussing matters with you.
Ready to arrange your Red Book Valuation?
Contact our professional RICS registered valuers today.