Selling gifted property

Hello, I had been gifted a propery 17 year ago by my grandad. My dad at the time paid tax owned as i was underage. My gradparents lived there until they passed away. I have now sold this property and have all taxes sorted in the country (there were not any as i owned it for over 5 year - country law). 1) do i have to pay cpt tax and do i do it through self assesment tax return? 2) how do i asses the value of the property 17 years ago? + how do i proove it? 3) what costs can i include in expenses (new units, windows, painting, taxes paid at the time). It was 17 year ago, so i don't think there are still receipts of what was paid to legal person to sign documents - does everything need to be prooved? 4) could it be treated as inheritated property ? It was around £50k if that matters Any help truly appreciated =)

Hi myshkat,
If it is, you will need to obtain the market value of the property when it was gifted to you
This value and your disposal costs will be deducted from the disposal value, to realise the gain.
There is a calculator at to help with this:
Tax when you sell property
If a gain arises, you have 60 days from the completion date to report and pay the Capital Gains Tax, otherwise you will incur penalties and interest.
If this is an overseas property, you may have a Capital Gains Tax to pay, if your disposed of the property for more than its market value at the time your acquired it.
You will have to work out if a gain arises, by converting the value of the property when you inherited it from the currency of the country to pounds sterling, using an exchange rate at that time.
You will also need to do this with the disposal value and your costs.
Thank you.