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CGT dilemma
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Estate agent valuations are not really relevant. Zoopla can be if the house is identical to others sold in the same time period. Ignore the estimate and look at real deals that happened.
Was the house let when you bought it, and is it let now? A sitting tenant materially affects value.0 -
Jeremy535897 said:Estate agent valuations are not really relevant. Zoopla can be if the house is identical to others sold in the same time period. Ignore the estimate and look at real deals that happened.
Was the house let when you bought it, and is it let now? A sitting tenant materially affects value.
The flat was actually bought at £76k (not £75k as noted in 1st post). No one lived there when I bought it in 2023. It's a 1 bedroom flat. The building has a strange layout - one side has 1 bedroom flats and the other 2 bed. 6 flats in total, built around 2010.
A 2 bedroom flat sold for £107k in the same building, a month after I bought my one. The 2 bedroom Zoopla valuation is now £109k with 'high confidence'. My flat is at £83k with 'low confidence '.
My concern is that HMRC will not know that the other flat is a 2 bedroom flat, if they look at historical sales and assume that £83k is incorrect.
I'll start calling to see how much surveyors charge for a valuation only.0 -
While it is a belt and braces approach to assume that HMRC will look diligently into every case, the reality is far from that. If you put in a value that can clearly be justified, the worst that can happen is a bit of interest and extra tax if HMRC argue successfully for a higher value.2
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