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Posted Tue, 19 Nov 2024 16:20:29 GMT by Sharoncgt Hanna
Hello, I bought a property as a main residence on one title in 2001 which consisted of a house and a separate cottage. I lived in the house and rented out the cottage. I split the title in 2010 when I sold the house but kept the cottage. I now wish to sell the cottage. Should the value of the cottage be assessed for CGT based on its value in 2001 or 2010? How do I retrospectively value the cottage to meet HMRC requirements?
Posted Thu, 05 Dec 2024 12:58:53 GMT by HMRC Admin 20 Response
Hi,
This answer is based on you retaining full ownership of the cottage when the title was split.
If this was the case it would be assessed on the 2001 value, when the property was purchased.
You should be able to obtain a valuation from an estate agent or one of the reputable online agents like Zoopla, Rightmove etc.
If you wish you can make a Post-Transaction Valuation Check request on form CG34.
Post transaction valuation checks for Capital Gains (CG34)
Thank you.

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