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Posted Sat, 30 Mar 2024 15:57:42 GMT by JoeT
I'm struggling to calculate exactly what if any CGT I will have to pay on a property that was gifted to me overseas that I have now sold. Apparantly, the CGT value is based on the value of the property at the time of the transfer (when the property was gifted to me) and not the value of the original purchase price. Exactly how does one calculate this value?
Posted Thu, 04 Apr 2024 14:15:53 GMT by HMRC Admin 2

Yes, it is based on the value at time of transfer.

If this was from a deceased estate there will be probate value at the time of death. if just a gift, you will need to contact an estate agent to obtain a valuation based on similar properties in the area that were sold at the same time yours was gifted.

Thank you.

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