5th April 2015 Property Valuations for CGT?

5th April 2015 Property Valuations for CGT?

9:27 AM, 19th February 2021, About 3 years ago 24

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I am non-UK resident and need to get a retrospective valuation of a UK house as at 5 April 2015. This is because for CGT purposes, the UK tax law says I can use the value of the house as at 5 April 2015 as my “acquisition cost”, instead of the cost I paid for the house in 2003.

I was about to hire a RICs valuer – they cost from £480 upwards. Then I saw Hometrack does an automated valuation (as at 5 April 2015) for £19.95. I believe Hometrack also provides Zoopla with automated valuations.

Has anyone used Hometrack for their CGT valuations? I am not sure whether their valuations are worth anything and whether the HMRC will accept it? I know Property 118 has a webpage recommending Hometrack, but just wondering what people’s experience of using an automated calculation over a RICs live valuation? I must admit, the Hometrack cost savings look attractive, especially if I do 4 or 5 valuations…

Many thanks

Lional


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Comments

Sweety West

11:45 AM, 9th October 2022, About 2 years ago

Reply to the comment left by Ellen Dade at 23/08/2022 - 15:19
Did you use the estimated capital value or the estimated value range when reporting the value to HMRC?

I ask because in my case there is a 20K diffrence between them.

Ellen Dade

10:02 AM, 10th October 2022, About 2 years ago

Reply to the comment left by Sweety West at 09/10/2022 - 11:45
Hi,

It would be the estimated capital value as this is the believed market value at the time. I understand the range is considered more for marketing purposes.

Kind regards,

Umar Dhami

17:58 PM, 25th May 2023, About 11 months ago

Hi
Looking for a historic property valuation, any suggestions on a similar site/tool to Hometrack although amazing it generates an Error for the property postcode l have although correct

Thanks

Olls63

20:21 PM, 25th May 2023, About 11 months ago

Reply to the comment left by Umar Dhami at 25/05/2023 - 17:58
Try the Nationwide Home Price website.
https://www.nationwide.co.uk/house-price-index/

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