Hi zeynepde,
Yes, it is likely that you will have some Capital Gains Tax to pay on this disposal.
You would need to obtain the market value of the property at the time it was gifted to you and covert it to pounds sterling, using an exchange rate that applied at the time of the gift being made.
You would also need to covert the disposal value to pounds sterling and deduct from this, the market value and selling costs.
If the disposal value is more than the market value and selling costs, there is a capital gain and tax may be payable.
This would be reported in a Self Assessment tax return in SA108 and SA106.
The exchange rate is not set in stone, which is why you have a choice.
Under the terms of Self Assessment, we do not provide an official exchange rate and the onus is on the individual to use a just and reasonable exchange rate for each acquisition and disposal.
Exchange rates from HMRC in CSV and XML format
Is just one option you could use.
Thank you,