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Posted Tue, 01 Oct 2024 13:51:29 GMT by Dave Marshall
I have owned the ground floor of a large country house in France since 2007. In 2021 just before France lifted their covid related travel restrictions the entire property was burglarised, vandalised, and the top apartment subject to arson and the communally owned roof destroyed. The one of the owners had let their insurance lapse and are unable to fund their share of the repairs. My apartment is unsellable and essentially worthless. Can I claim it has negligible value?
Posted Wed, 09 Oct 2024 11:38:03 GMT by HMRC Admin 19 Response
Hi,
You can see guidance here:
CG13137 - occasions of charge: assets lost/destroyed/negligible value: Buildings and Structures
Thank you

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