A clear and up-to-date guide to the UK tax system for surveyors and valuers which demonstrates land valuation for taxation purposes.

This is an introduction to taxation in the property world, written specifically for surveyors, valuers, estate agents and property developers who require a basic understanding of the subject. It aims to provide a unified and up-to-date account of the UK taxation system, so far as it affects land, buildings and legal rights in property. Coverage includes the 1989 Finance Act and 1990 budget. The reader is first introduced to the broad concepts of taxation before the structure and administration of the UK taxation system are examined. Specific taxation measures are then discussed and both income and capital taxes are considered together with an appraisal of the means by which interests in land and valued, for the purpose of determining liability and taxation. Betterment recompensement is given special attention as is revenue law and valuation methods. Their effects on the appraisal of land and buildings are assessed. Alistair MacLeary highlights specific tax measures and leading cases with particular implications for land and property throughout. This book: uses real-life examples; is aimed directly at surveyors; and incorporates the 1989 Finance Act.

The volume of money invested in the UK has increased dramatically in the last ten years; over the same period the property market has seen equally radical changes. Increasing concern has been expressed at the inadequacy of existing techniques for the valuation and appraisal of property investment. There is little doubt that new methods are needed. This text examines the theoretical basis and underlying assumptions of the various property models currently in use. They highlight some of the problems inherent in the current methodology, and identify possible ways forward for both research and practice.

This up-to-date reference on property investment highlights the problems with existing techniques of property valuation and appraisal and identifies possible ways forward for both research and practice.