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Posted Mon, 11 Sep 2023 11:52:26 GMT by andrew
I have a property (house) which I will be transferring to a child in the form of a gift. This is not my primary residence. When assessing the current market value for the property what sources/evidence do HMRC accept? For example, I bought the property a few years ago and can estimate current market value using the Nationwide Building Society (or similar) house price calculator which estimates current value based on purchase price/date and subsequent price variations since then. Would HMRC regard this as an accetable source for the purposes of CGT calculation?
Posted Mon, 18 Sep 2023 16:09:47 GMT by HMRC Admin 10
Yes, the house price calculator you mention would be an acceptable source of market value information for Capital Gains tax calculation purposes.

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