Capital Gains Tax when selling a property in a trust

We are setting up a trust and placing a property we own into the trust. We will be paying CGT using the market value of the property as advised by a surveyor (let's say it is £300,000). if we were to sell the property in the trust a few years later, we would need to pay CGT based on the property value at that time. My question is how do we register the £300,000 as the initial value of the property in the trust so future CGT will be based on this value.

Hi,
You would need to have a valuation done to ensure there is a record held of your 'purchase' price for when you come to sell it.
Thank you

We will have a valuation done by a Chartered Surveyor but I understand that HMRC might challenge the valuation. If HMRC decided on a different value for the property, I'm just wondering what kind of records do we need to reflect the adjusted value when we come to sell it.

Hi,
In general, we will accept your valuation. There may be occasions where we do not agree with your valuation. If we cannot agree your valuation, we will informally suggest alternatives. We use specialist valuers to value some assets, mainly shares, land, goodwill and works of art. You will also be able to discuss your valuations with our valuers.
If we cannot reach agreement on any valuations you use in your return or the filing date is reached, we may enquire into your return. Under enquiry rules you would have the right to appeal to an independent tribunal.
Thank you.