PropertyQuestion091490

Thank you. I am sorry, the case discussed in this thread is when the acquisitions were through inheritance and gift, not through purchase(s). So there is no purchase price at the time of the acquisitions for the asset. Could you help me with the previous questions (copied below) given that the acquisitions were through inheritance and gift, please? I have modified the second question: I specified that it is about acquisitions through inheritance/gift. *** 1. Could you advise me, please, can the property's "cadastral value" be used for valuation instead (for the prices at the acquisitions for the gift and the inheritance)? To the best of the understanding, a “cadastral value” (in the Country where the property is located) is the value of a property determined in accordance with the procedure provided for by the Country's law, as a result of conducting a state cadastral valuation in accordance with the methodological guidelines on state cadastral valuation. 2. Could you advise me, please, is it required to check with HMRC the valuation of the foreign property for the Capital Gains Tax if the acquisitions happened through inheritance/gift? As in, should the valuation information be submitted to HMRC somehow (unless, of course, HMRC has requested it, in which case it should be sent obviously)? (Assuming the calculated gain is below the allowance of £12,300 in the tax year 2021/2022.)

Thank you. 1. Could you advise me, please, can the property's "cadastral value" be used for valuation instead (for the prices at the acquisitions for the gift and the inheritance)? To the best of the understanding, a “cadastral value” (in the Country where the property is located) is the value of a property determined in accordance with the procedure provided for by the Country's law, as a result of conducting a state cadastral valuation in accordance with the methodological guidelines on state cadastral valuation. 2. Could you advise me, please, is it required to check with HMRC the valuation of the foreign property for the Capital Gains Tax? As in, should the valuation information be submitted to HMRC somehow (unless, of course, HMRC has requested it, in which case it should be sent obviously)? (Assuming the calculated gain is below the allowance of £12,300 in the tax year 2021/2022.)

Could you help me, please? 1. For the purposes of Capital Gains Tax, for calculating an acquisition price for an asset that was gifted (inherited), is it appropriate to use a valuation of the asset at the moment when the gift (inheritance) happened, or as close to that moment as practically possible? 2. For a foreign flat, for Capital Gains Tax, can I use any reasonable valuation, or are there any specific rules with HMRC that I must follow? 3. For exchange rates, is it fine to use foreign exchange monthly rates from HMRC? Thanks.

Could you help me, please? I need to submit a Self Assessment tax return for the year 2021/2022. 1. If in the tax year 2021/2022 I sold my share of a flat (the asset), which is in a foreign country (i.e. not in the UK), and the asset's sale price (converted to GBP) was below £49,200, and my calculated gain (converted to GBP) is below £12,300, is it correct that I don't need to provide anything in regard to that sale in my Self Assessment tax return and I don't need to inform HMRC about it in any way? Thanks.