Retrospective house values for Capital Gains tax

flakey321

Annisele said:

How did you acquire the share in 2018?

If it was inherited, then there might have been a valuation back then for probate purposes.

If it was gifted, then (depending on whether the giver was connected to you), the relevant date for the valuation might be considerably before 2018.

If you bought it, you might just be able to use the price you paid.

There was a transfer of registered title on the land registry which went from a previous agreement of my grandma and 2 aunties transferred to my grandma /uncle/ aunty and grandchildren. I've checked and no valuation was performed at this time. My grandma is still alive and a move to a care home has prompted the sale.

khpugh

Hello, please can you tell me how to obtain a retrospective house valuation for 2010 for CGT? No evidence of valuation being documented at time of deed transfer. Thank you 

user1977

khpugh said:

Hello, please can you tell me how to obtain a retrospective house valuation for 2010 for CGT? No evidence of valuation being documented at time of deed transfer. Thank you 

Ask a surveyor. Retrospective valuations are pretty commonplace for them to do.

newsgroupmonkey_

khpugh said:

Hello, please can you tell me how to obtain a retrospective house valuation for 2010 for CGT? No evidence of valuation being documented at time of deed transfer. Thank you 

This is a 2 year old thread.

I'd suggest starting a new one.

theartfullodger

macman said:

flakey321 said:

macman said:

Recent sale: how recent? You are aware that CGT due on a property sale must be reported and paid within 60 days of the date of sale?
Beyond that date, penalties will apply.

It should be going through in the next few weeks. I'd assumed that it would get entered on my self assesment at the end of the tax year - but is that not the case? do you therefore declare it now (which would definitely be under the CGT threshold) and then have to record it again on your self assessment at the end of the tax year? Do share sales mid tax year need to be declared straight away (again on their own under the threshold) or do they wait until self assessment?

................
As others have stated, the process for CGT on shares is entirely separate and done via your annual SA.
..............

Not entirely separate from SA in my experience.  The way I've done it (3.5 house sales - 0.5 as half owner of late brother's house - one sale each year..) is declare for CGT AND PAY within the 60 days (? was it 30 days previously), keep records, then when you do the annual SA for that tax year later you stick the property CGT numbers again which are then aggregated with any other CGT numbers (eg sale of shares,,,).  Been round that loop too many times frankly...