How do I value property if I became joint owner 6 years after purchase?

by Readers Question

14:03 PM, 30th August 2016
About 4 years ago

How do I value property if I became joint owner 6 years after purchase?

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How do I value property if I became joint owner 6 years after purchase?

I really hope you guys can help. My wife kept her property when we purchased ours. She let it out and then 6 years later we became joint owners of it. how to

We have sold the property. I understand how to calculate her CGT liability but, I never lived at the BTL property and as I gained the asset 6 years later how do I value the asset?

Or am I not calculating this correctly ?

Many thanks for any guidance

Mar and Bev


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Comments

Fraser Maldoom

12:31 PM, 31st August 2016
About 4 years ago

Mark O'Dwyer

17:03 PM, 4th September 2016
About 4 years ago

Reply to the comment left by "Ravi gupta" at "31/08/2016 - 12:06":

Hi Ravi

Great advice. I don't suppose you have a link to the web page. Ive searched but to no avail.

Much appreciated

Mark

Mark O'Dwyer

17:37 PM, 4th September 2016
About 4 years ago

Reply to the comment left by "Mark O'Dwyer" at "04/09/2016 - 17:03":

No worries Ravi

I've found it. For anyone else its http://landregistry.data.gov.uk/app/ukhpi/explore

To calculate the value of a property at a chosen date.

1. Select type of property
2. insert the "from date" date property purchased
3. insert the "to date" date you want the value of property ie: 3rd quarter of 2006

To calculate value

Divide the property purchase price by the index number for date purchased
Then multiply this figure by the index number for the date you want to value the property.

Hope this helps someone.

1 2

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