Cake909

Thank you! I will report non resident capital loss according to the market value that I think it’s worth now. However I am not sure if I need a rics survey for valuation or an estate agent valuation is satisfactory as long as there is a post valuation by HMRC?

Hi. I am not a UK resident and I own a house In UK that I have gifted to my nephew. The market value of the house has gone down in the last few years because it’s currently on the market for less than it was bought, so I am sure it’s a loss, and no capital gain. Do I need to report capital loss or zero gain to HMRC? Do I need post valuation? Do I need to pay a rics surveyor to come and conduct a capital gains survey?