Inherited property abroad capital gains calculation

I have inherited parents property in India after their death about 5 years ago.(both non uk domiciled) It has been lying vacant and now we as a family have agreed to sell . The property is very old and was gifted to my mother in the 1960's. so we dont have a purchase price . for purposes of capital gain tax calculation in India a valuation has been done for year 2017 will this valuation be accepted for capital gains tax calculation in the uk as well ?

Hi,

Your purchase price will be the valuation at the time you actually inherited the property and if this was in 2017 then yes, this will be accepted for the UK.

Thank you.

Thank you In India there are certified valuers who value the property and this is used to pay capital tax in India Would that certificate be enough for the hmrc Or the evidence of tax paid in India enough for hmrc to calculate the tax owed in uk after taking into consideration the double tax treaty which exists

Hi Rajkumar,
Yes this would be acceptable evidence. you would then claim this in the return for any UK liability to be known.
Thank you.