Ben Armstrong

I am completing a capital gains tax report for my father who was renting a property during the full time he owned it. He purchased this off his son (this was the sons main residential home at the time) and has now sold it to me his other son. When completing the calculation do we use the market value or the actual purchase price/ selling price. Also please could you tell me ways in which to find a historical valuation for the house if we are to use the market value?

I am completing a capital gains tax from for my mother and father after they sold me their rental property. They originally purchased the rental property from my brother (this was his main residential home). Please would you let me know if the following CGT calculation is correct: Property purchased 2000 - £50,000 by Son. Residential home, lived in the property did not own any other property. Property sold to father/mother jointly owned 2010 - £30k as a buy-to-let. (est MV £70k) Sold to other Son for £70k 2024 (est MV £90k). CGT due treatment per owner. Purchase price 50% 2010 - MV £35k plus 50% purchase legal costs. Sold MV 2024 - 50% MV £45k plus 50% selling costs CGT due per owner - £10k less allowance £3k * 18% as in the basic band equal £1260 each?