A family figure needs an evidence base
A parent may wish to transfer a site. A family may be planning the next stage for a farm. A beneficiary may be deciding whether to retain an inherited property. In each case, a valuation can help the advisers work from an explained opinion rather than an informal figure.
I would ask the solicitor or tax adviser to define the instruction before arranging the work. Which interest is being transferred? Which date matters? Is one report required for a single purpose, or are there several questions to address?
Different taxes can ask different questions
Revenue’s guidance describes a valuation date for Capital Acquisitions Tax that is used to establish the market value of a gift or inheritance. For an inheritance, that date is not invariably the date of death (Revenue, 2026c). Probate administration separately requires date-of-death asset values (Courts Service, 2025).
Market value may also be relevant for Capital Gains Tax where an asset is gifted (Revenue, 2026a). Revenue’s Stamp Duty guidance addresses market value for gifts of land and buildings (Revenue, 2025a). Whether tax is payable, and whether a relief or exemption applies, are questions for the advisers. A valuation supplies evidence for their work.
Describe the interest being transferred
“The farm” or “the house and site” can mean different things to different people. Start with a plan and a clear description. Identify the dwelling, farm buildings, agricultural parcels, access and any area being retained. Explain any occupation, lease or proposed arrangement affecting the interest.
A valuer should work from the legal information and assumptions agreed in the brief. The solicitor should clarify ownership and the effect of proposed rights or restrictions. A visit to the property cannot resolve those legal questions by itself. A clearly defined interest, purpose and basis of value are central to a properly scoped valuation (Fothergill, 2026).
Treat a partial interest carefully
An instruction to value an entire property is different from one to value a particular interest in it. Ask the adviser which question needs answering. Avoid assuming that a percentage of the whole-property figure necessarily answers every transfer or tax question.
For a farm succession proposal, it may be useful to identify components separately where the brief requires it. The report should explain the basis of any allocation. It should not present a convenient division of a total as if each component had been independently investigated.
Provide the evidence that belongs to the date
Supply available maps, leases, planning documents, earlier sales particulars and relevant reports. If the instruction concerns an earlier date, photographs and records of the property’s condition at that time can be valuable. Later improvements need to be identified rather than quietly included in the historic assessment.
Keep the final report with the relevant transaction records and advisers’ instructions. If the proposed transfer changes, ask whether the report remains suitable. A different parcel, altered occupation arrangement or later date can change the question.
Start with a coordinated brief
A useful enquiry gives the property address, the proposed transfer, the intended recipient of the report and the adviser’s required date. It should also identify who can authorise access and provide documents.
The objective is a reasoned report that fits the transaction as it is actually proposed. No valuation can guarantee a particular tax treatment or an authority’s acceptance. Those outcomes depend on the relevant rules and the facts considered by the appropriate decision-maker.
References
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Revenue (2026c) What is the valuation date?. Available at: What is the valuation date? (Accessed: 1 November 2026).
Revenue (2026a) How to calculate Capital Gains Tax. Available at: How to calculate Capital Gains Tax (Accessed: 1 November 2026).
Revenue (2025a) Gifts. Available at: Gifts (Accessed: 1 November 2026).
Courts Service (2025) Explaining probate. Available at: Explaining probate (Accessed: 1 November 2026).
Fothergill, J. (2026) When is a figure a valuation? Understanding scope, purpose and basis under Red Book. Available at: When is a figure a valuation? Understanding scope, purpose and basis under Red Book (Accessed: 1 November 2026).
Further reading
Wyatt, P. (2022) Property Valuation. 3rd edn. Wiley-Blackwell. Edition, context & purchase links View / buy at publisher
Wylie, J.C.W. (2020) Wylie on Irish Land Law. 6th edn. Bloomsbury Professional. Edition, context & purchase links View / buy at publisher
Books listed for further reading have not necessarily been consulted in full. See the reading room for the basis of each recommendation.
General information for Irish property matters. The requirements of a particular instruction should be discussed with the appropriate professional. Editorial approach and source policy.
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