The tax depreciation schedule process is complex in itself and it is not a simple task to manage the process with the normal or less knowledge that you have regarding it. Once the negotiations have been completed, the Valuer will report back to the Highways Agency to advise that compensation has been agreed, or that no compensation is payable. If compensation is payable, where the property is subject to a mortgage, we will write to your mortgage provider to ask if the compensation can be paid to you.
If you are expecting the process to be done in the best possible ways then for that it is also required to face the depreciators help in the process which they will perform. However, the mortgage provider has first refusal to receive the compensation to be set against your mortgage account. If there is no mortgage, you will be required to provide proof of your ownership of the property (Proof of Title) by sending us a letter from whoever holds your deeds confirming that you owned the property on the appropriate date.
The best way to manage the depreciation process is when the are there to make the process successful and easy for the steps conduction in the right and legal manner. This will always make the process better and in the favor of their clients for whom they are working. Everyone who is entitled to the compensation must sign the form, in the presence of a witness, to confirm that the compensation agreed is in full and final settlement of your Part I claim. One copy of the Acceptance and Discharge form is returned to the Agency and the other can be kept for your records.
However, on occasions the payment may be delayed and you should not make any financial commitment in anticipation of receiving the compensation. The Highways Agency will pay interest at Statutory Rates on your compensation from the date your claim is received, or from the first claim date, whichever is the later.