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Posted Sun, 22 Dec 2024 12:17:05 GMT by Heathier Life
I bought a property off plan and the transaction started in January 2003. The area had a property price boom between 2003-2007 due to the newly developed Oracle. The property was in highly desirable development with a gym and underground parking which is at a premium in city centres. 1. At the point of completion I believe the property was valued in the range of £200,000-£250,000 evidenced by other properties in the development sale prices at that time. I believe the property I bought was valued at the higher end of the range. 2. Also both Halifax PLC’sUK and Nationwide House Price Index give similar results. Can I use this information rather than the price paid on the land registery lease document when calculating Capital Gains Tax. Thank you.
Posted Thu, 09 Jan 2025 16:52:13 GMT by HMRC Admin 20 Response
Hi,
No.  
You have to use the figure you acquired the property for.
Thank you.

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