Bradleys Chartered Surveyors
  • Toms Update
  • CAPITAL GAINS TAX NOW POSSIBLE ON YOUR OWN HOME


    ‘Principle Private Residence Relief’ has been amended for sales of houses after 6th April 2020. Not a lot of people know that.


    Fortunately for most people when selling their own home the situation is unchanged in that no Capital Gains Tax is payable.


    However, there are exceptions.


    For example, if you have been away for any length of time and let your main residence while you have been away, there may well be a Capital Gains Tax liability. Or, if you let part of the property (maybe an annex or holiday let), or if part of the property is used for business, for these type of things there is likely to be a Capital Gains Tax liability. And what is worst is that any Capital Gains Tax has to be declared, and paid, within a month of the sale of the property. This is extremely quick and there are penalties if you do not carry it out within the prescribed time.


    Also, if there is a Capital Gains Tax liability, this liability has increased with the final period of exemption now reduced from 18 months to 9 months (and not very long ago it used to be 36 months).


    It is important to take on board that if you start to diversify with your property, letting part of it or making money out of another part, then you could be running up a tax liability when you sell.


    As Surveyors we strongly advise you to speak to your accountant regarding any form of tax liability. It may well be that they require valuation of the whole property, or part of the property, at certain dates prior to disposal, and this is where we can provide a valuation for you.


    Tom Davies

    Tom Davies

    Managing Director

  • Latest News
  • About Us
  • Bradleys Surveyors are a firm of Chartered Surveyors with vast experience operating throughout the core of the West Country, providing a straightforward and thorough service throughout Cornwall, Devon, and Somerset.


    Our RICS accredited Surveyors can aid you in a wide range of property services such as a Building Survey or HomeBuyer Report to assist you with your house purchase or one of the various valuations we specialise in. We have expertise in both residential and commercial property to satisfy our many different clients.


    Recent research has revealed that up to 90% of the residential properties inspected today suffer from some kind of defect. As a result, many buyers are unknowingly setting themselves up with the average bill of £5,750 to overcome hidden problems which would have been acknowledged by one of our surveyors in a report often costing as little as 10% of that bill! For many purchasing a property will be the largest investment of their life so don’t delay in gaining friendly and comprehensive reassurance from one of our surveyors today!

  • Homebuyers Report
  • The RICS HomeBuyer Report is a user friendly document presenting clear recommendations to the client, providing that extra reassurance before commitment to purchase is made. Comments are made in respect of the interior and exterior structure, services, grounds and legal issues in conjunction with a traffic light condition rating system. The knowledge of any existing or potential areas of concern allows the client to make a reasoned and informed judgement on their future home.

    Find Out More...
  • Building Surveys
  • The most comprehensive survey available, a Building Survey will provide a technical breakdown of construction and condition of the structure and its main components. Any existing or potential defects will be identified, an opinion on origin given along with recommendations to overcome and prevent in the future. Information regarding specific issues such as structural movement, timber defects and dampness will be included providing you with a detailed assessment of your future home.

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  • Valuations
  • Our Chartered Surveyors are highly experienced in undertaking a wide range of valuation services, all in accordance with RICS standards. We can provide you with a valuation for many purposes (both residential and commercial) including Matrimonial Disputes, Probate/Inheritance Tax, Capital Gains Tax and more. On contact with a member of our friendly, knowledgeable staff we will be able to understand your needs and direct you appropriately and efficiently.

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  • Specialist Services
  • In addition, we at Bradleys Surveyors also offer a range of specialist services to meet our vast experience of this unique area of tht your survey needs. These include Expert Witness Reports, Concrete Testing and Professional Consultant’s Certificates to name a few. With the many issues specific to Cornwall, Devon and Somersee Country will fill you with confidence in all aspects of survey work.

    Find Out More...

Career Opportunities

Chartered Surveyor required for North Devon area

Full time or possible four day a week position. Company car and competitive salary provided. Please contact Tom Davies on 07791 717056 or email tomdavies@beagroup.co.uk

Toms Update!

CAPITAL GAINS TAX NOW POSSIBLE ON YOUR OWN HOME


‘Principle Private Residence Relief’ has been amended for sales of houses after 6th April 2020. Not a lot of people know that.


Fortunately for most people when selling their own home the situation is unchanged in that no Capital Gains Tax is payable.


However, there are exceptions.


For example, if you have been away for any length of time and let your main residence while you have been away, there may well be a Capital Gains Tax liability. Or, if you let part of the property (maybe an annex or holiday let), or if part of the property is used for business, for these type of things there is likely to be a Capital Gains Tax liability. And what is worst is that any Capital Gains Tax has to be declared, and paid, within a month of the sale of the property. This is extremely quick and there are penalties if you do not carry it out within the prescribed time.


Also, if there is a Capital Gains Tax liability, this liability has increased with the final period of exemption now reduced from 18 months to 9 months (and not very long ago it used to be 36 months).


It is important to take on board that if you start to diversify with your property, letting part of it or making money out of another part, then you could be running up a tax liability when you sell.


As Surveyors we strongly advise you to speak to your accountant regarding any form of tax liability. It may well be that they require valuation of the whole property, or part of the property, at certain dates prior to disposal, and this is where we can provide a valuation for you.


Tom Davies

Tom Davies

Managing Director

Latest News

About Us

Bradleys Surveyors are a firm of Chartered Surveyors with vast experience operating throughout the core of the West Country, providing a straightforward and thorough service throughout Cornwall, Devon, and Somerset.


Our RICS accredited Surveyors can aid you in a wide range of property services such as a Building Survey or HomeBuyer Report to assist you with your house purchase or one of the various valuations we specialise in. We have expertise in both residential and commercial property to satisfy our many different clients.


Recent research has revealed that up to 90% of the residential properties inspected today suffer from some kind of defect. As a result, many buyers are unknowingly setting themselves up with the average bill of £5,750 to overcome hidden problems which would have been acknowledged by one of our surveyors in a report often costing as little as 10% of that bill! For many purchasing a property will be the largest investment of their life so don’t delay in gaining friendly and comprehensive reassurance from one of our surveyors today!