Non-Domicile and Non-Resident Property Valuations

“Non-domicile property valuation” is a term that clients still use when they need a UK property value for tax purposes. The tax context has changed: from 6 April 2025, the former domicile-based remittance basis for foreign income and gains ended and was replaced by a residence-based regime. For a UK property disposal, residence status, the asset, ownership structure, disposal date and the advice of your tax professional determine the relevant treatment.

A RICS property valuation establishes the market value of the real estate at a specified date. It does not calculate your tax liability or decide which reliefs, exemptions or reporting rules apply. Your accountant, solicitor or tax adviser should confirm the valuation date and purpose before the valuer is instructed.

A current or retrospective valuation may be required for a sale, transfer, gift, estate, tax return or HMRC enquiry. For some non-resident disposals, relevant dates may include 5 April 2015 for UK residential property or 5 April 2019 for other UK property interests. The appropriate date and calculation method depend on the facts, so they should be confirmed by your adviser.

A retrospective valuation is not simply today’s value adjusted by an index. The valuer considers the property’s condition and legal interest at the specified date, together with comparable transactions and market evidence available at that time. Contemporary photographs, plans, leases, tenancy information and records of alterations can materially assist the assessment.

Where a formal report is required, our RICS Registered Valuers can prepare it in accordance with the applicable RICS Valuation – Global Standards and UK requirements. We recommend taking specialist UK and overseas tax advice where appropriate.

We value the UK property interest only. We do not assess rental income tax, determine tax residence or advise on the tax consequences of transferring or selling the property.

A formal valuation can provide independent evidence for your professional adviser’s calculations and records. Common instructions include:

• 5 April 2015 residential-property valuations: HMRC guidance identifies this as the usual rebasing date for certain UK residential property owned by a non-resident before 6 April 2015.
• 5 April 2019 valuations: the non-resident property rules were extended from 6 April 2019 to direct and indirect disposals of all UK property or land. Your adviser should confirm whether a 2019 value is required.
• Values at acquisition, gift, transfer or death: a market valuation may be required where there was no open-market purchase price or where a historic value must be evidenced.
• Evidence for a tax return or HMRC enquiry: a reasoned report records the property interest, valuation date, basis of value, assumptions and comparable evidence.
• Property owners living overseas: instructions and documents can be handled remotely, although suitable access for an inspection will normally be required.

The relevant valuation date is a tax and legal question. Obtain written confirmation from your adviser before commissioning the report, particularly where there are several owners, trusts, companies, mixed-use premises or indirect property interests.

The former “non-dom” label does not by itself determine the Capital Gains Tax treatment of a UK property disposal. If you are not UK resident, HMRC requires disposals of UK property or land to be reported even when no tax is payable. Current guidance generally requires the disposal to be reported, and any tax due paid, within 60 days of completion.

Non-resident Capital Gains Tax applied to disposals of UK residential property from 6 April 2015. From 6 April 2019, the rules were extended to direct and indirect disposals of all UK property or land. Non-resident companies may instead be within Corporation Tax. Residence, ownership structure and the nature of the asset therefore need to be checked by a qualified tax adviser.

For residential property owned at 5 April 2015, HMRC describes three potential methods for calculating the gain: rebasing to market value at that date, time apportionment, or using the whole-period gain. Your adviser should select the appropriate method. We can provide the independent current or retrospective property value used as evidence; we do not prepare the tax calculation or file the return.

See HMRC’s official guidance on calculating a non-resident property gain and reporting a UK property disposal.