5th April 2015 Property Valuations for CGT?
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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Member Since October 2022 - Comments: 1
11:45 AM, 9th October 2022, About 4 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.
Member Since August 2022 - Comments: 2
10:02 AM, 10th October 2022, About 4 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,
Member Since May 2023 - Comments: 1
5:58 PM, 25th May 2023, About 3 years 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
Member Since January 2020 - Comments: 102
8:21 PM, 25th May 2023, About 3 years 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/
Member Since December 2024 - Comments: 1
5:24 AM, 30th December 2024, About 1 year ago
Using Hometrack is a waste of money and is not necessary. You can calculate your CGT by using the time apportionment method. For example if you purchased your property in 2003 and sell it in 2025, you have owned it for 22 years. Using time apportionment, you are only liable for CGT from 2015, i.e. 10 years.