Adrian Leach, HCR Assistant Director Business Development appeared in the Money section of Sunday Telegraph on December 9 2007 in an article headed “Make the right moves when your employer relocates”. The article was aimed at shaming the Government because they have not uplifted the Relocation Tax Allowance of £ 8,000 since 1993. Journalist Theresa Hunter observed that: “the only real winner is the taxman”. Adrian suggested that relocating staff in Group Moves was becoming more scarce, as the costs rise and the tax allowance remained static, and “…the employee will be badly left out of pocket”.
Citing the BBC, the article goes on to state that with guaranteed home sale schemes “valuations can disappoint” and “if the property subsequently sells for more, the company keeps the profit.”
Whilst although HCR agrees that the taxman does make a massive amount of money out of employee relocation, it disagrees that HCR’s guaranteed home sale scheme provides the same negative features stated in the article.
“HCR use independent Valuers, Chartered Surveyors (members of the RICS), and they are asked to provide the market value on which the guaranteed sale price is calculated,” responds David Jannetta, HCR Move Adviser. David also goes on to say, “ Our experience shows that the majority of HCR’s guaranteed sales prices are realistic and in almost all cases, any gain over and above that is passed onto the employee”.
A full account of the article may be available on-line, please visit: www.telegraph.co.uk/money
For further information on the Guaranteed Home Sales Price scheme, please email: sstedham@hcr.co.uk
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