market valuation for transfer with zero consideration

Dear HMRC, What is required to support the market valuation for a property gift for CGT purposes where there is zero consideration? We have details of recent sales of apartments in the same building and a few are currently on the market - can we use this information to support our assessment of the market value CG34? Or do you require an estate agent valuation? or multiple valuations? or a RICS surveyor valuation? It is not clear from the published guidance which implies we should just send any evidence we consider to be relevant. If there has been a CGT loss on the property transferred, can the transferor applied against other asset CGT gains for the tax year (e.g. shares) ?

Hi,
As you are indicating a loss is due, a formal valuation would need to be done to support your figures t o then allow the correct loss to be used.
Thank you.

Thank you - please can you clarify whether a formal valuation is always required (for gain, loss and stable valuation) and whether that means an estate agent or chartered surveyor or what?

Hi Isobel,
HM Revenue and Customs (HMRC) can check your valuation.
After you have disposed of the asset, complete a ‘Post-transaction valuation check’ form. Return it to the address on the form - allow at least 3 months for HMRC’s response:
Capital Gains Tax: what you pay it on, rates and allowances.
Thank you.