Valuation Tribunal (to follow)

dfarry

00ec25 wrote: »

indeed, lets be positive, the extra tax collected through your rebanding has now been wasted by the council on tribunal proceedings instead of paying for care for the elderly in your borough or educating the kids in the school at your front door.

On the basis of your reply i guess you could say i am getting my moneys worth then.... That's not my intention though.... If i strongly believe in something then i will fight for it...... wouldn't you?

John_Pierpoint

It is a very inexact science, even for current house prices now that all the sale prices are in the public domain.

I have had to set a price on two houses for Inheritance tax purposes and in both cases the valuation came down to a personal haggle with a VOA employee. Score a 1:1 draw.
Somewhat cheaper and quicker than going to a valuation tribunal but obviously to avoid the erosion of a major tax base, the whole thing has to be made to appear "scientific" to discourage further applicants for a reduction.
I wonder if statistics are available showing the success rate of applicants in person achieving a lower valuation? 50:50 ? 90:10?
I would never criticise someone from exercising their democratic rights to challenge taxation.

lincroft1710

00ec25 wrote: »

the extra tax collected through your rebanding has now been wasted by the council on tribunal proceedings

Completely wrong! Councils are not involved in this type of CT tribunal.

Valuation Tribunals are wholly funded by central government and the VOA who were opposing the request for a rebanding are part of HMRC.

John_Pierpoint

Are they not a self accounting "agency" ?

ie they charge for their services even though it may be in "Chinese money"

lincroft1710

John_Pierpoint wrote: »

Are they not a self accounting "agency" ?

ie they charge for their services even though it may be in "Chinese money"

If you mean VOA, I'm not sure as I believe the method of funding has changed since I left.

Even when I was there it changed several times, the Agency ended up being given a sum of money each year to pay staff, accom, travel expenses, equipment and all other costs and told this is what you've got, we need a 4% saving next year.

John_Pierpoint

So the VOA has a quick look a something like "Zoopla" to produce a guestimate; same as the rest of us?

lincroft1710

John_Pierpoint wrote: »

So the VOA has a quick look a something like "Zoopla" to produce a guestimate; same as the rest of us?

Not really.

VOA has one of the largest databases of property prices in the country. It has received details of virtually every property sale since at least the 1920s (it may even be the 1910s, but I just can't remember).

In the 1970s many of the older documents were disposed of, and those at the time deemed still useful were microfilmed. This process continued for some years.

Since the mid 1980s the VOA has recorded property sales on computer which makes it comparatively to search for 1991 property sales.

John_Pierpoint

How did it get to know about unregistered transactions prior to the mid 1970's when all sales became registrable?

I just ask out of curiosity - as it became something of a shock in some quarters when the public were given access to the Land Registry (in the 1990's if I remember correctly) though it took until the 2000s to get access to the price paid. [and Cobham in Surrey to become the nosiest town in England].

lincroft1710

John_Pierpoint wrote: »

How did it get to know about unregistered transactions prior to the mid 1970's when all sales became registrable?

The info came from a form which (usually) was completed by the buyer's solicitor who then sent copies to the Stamps Office who in turn sent a copy to the VOA.