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Where Taxpayers and Advisers Meet

Rebased CGT 2015

kanrent
Posts:123
Joined:Tue Dec 16, 2014 8:20 am
Rebased CGT 2015

Postby kanrent » Mon May 22, 2023 3:16 am

Hi I'm a non resident British citizen.
I became liable for CGT in 2015 on my UK rental house.
Unfortunately I didn't get a valuation in 2015, now I want to sell the property.
Is there anyway I can get a 2015 historic valuation for CGT purposes.

AGoodman
Posts:1767
Joined:Fri May 16, 2014 3:47 pm

Re: Rebased CGT 2015

Postby AGoodman » Mon May 22, 2023 2:29 pm

Yes, surveyors are used to preparing historical valuations.

kanrent
Posts:123
Joined:Tue Dec 16, 2014 8:20 am

Re: Rebased CGT 2015

Postby kanrent » Mon May 22, 2023 5:24 pm

Is it best to get a valuation from a RICS surveyor?, is it more likely to be accepted by HMRC?.

AGoodman
Posts:1767
Joined:Fri May 16, 2014 3:47 pm

Re: Rebased CGT 2015

Postby AGoodman » Tue May 23, 2023 10:47 am

Yes

Incidentally, as an alternative, you can also elect to be taxed on the straight line (time apportioned) basis, whereby the property is deemed to have increased in value at a continuous rate. As you know the purchase and sale price and the date of those transactions, you can work out the April 2015 gain as a proportion of the whole without a valuation.

It is mentioned here: https://www.litrg.org.uk/tax-guides/savers-property-owners-and-other-tax-issues/capital-gains-tax/capital-gains-tax


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