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Hugo Busby, a chartered surveyor, joined the London Property Podcast to discuss the importance of accurate property valuations for inheritance tax (IHT), capital gains tax (CGT), matrimonial cases, and insurance. He stressed that:

• Incorrect valuations can lead to unnecessary tax liabilities (IHT at 40%, CGT up to 28%).
• In divorce cases, joint expert valuations ensure fairness and stand up to legal scrutiny.
• A holistic approach is key — covering both property and contents, especially for insurance and tax planning.
• Insurance valuations should be reviewed regularly to avoid overpaying premiums.
• Market conditions, past valuations (as far back as 1982), and solid documentation are vital for HMRC compliance.

Busby also shared practical examples and noted current trends like a softening property market and rising construction costs.

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