NRCG

The mother and son jointly own a property, with the ownership split equally between them. The son is not a resident nor domiciled in the UK. He resided in the property before relocating abroad. It is believed that the son may be eligible to claim Principal Private Residence Relief (PRR) for the final nine months prior to selling the property. Additionally, he can utilise the default method by using the property value as of April 5, 2015, as the basis for calculating the capital gain. Can you confirm if this interpretation is accurate?

Hi,
Private Residence Relief is  available for the last 9 months before a residential property is sold if the property in question was at some point the seller's only or main residence:
Tax when you sell your home                                      
If, as a non resident of the UK, you dispose of a UK residential property that you owned before 6 April 2015, you would normally use the market value at 5 April 2015 (rather than the aquisition cost of the property) to calculate the Capital Gain:                                                 
Non-resident Capital Gains for land and property in the UK (Self Assessment helpsheet HS307
Thank you.       

Thank you for the response above. How do we get the property valued at the date mentioned above? Get RICS surveyor, Estate Agent or request HMRC's valuation agency to provide a figure? Thank you.

Hi M Ali,
There is no preset method of obtaining the market value.
You are able to use the services of a qualified surveyor or estate agent for example.
You could also use values of similar properties for sale in the area at the time of acquisition or disposal.
HMRC does offer a free valuation service (CG34) to help you complete your Self Assessment tax return.
You can ask us to check valuations after you’ve made the disposal.
Post-transaction valuation checks for capital gains).
Thank you.