Getting the value of a property as at 6/4/74 for cgt purposes

dbran

Hi

Perhaps an easy one for someone who knows.....

What is the best way of getting a valuation for CGT purposes of a property when it was purchased pre 6/4/74.

Thanks in advance for any help.


Kind Regards

Dbran

TaxingTimes

I have not done this before, but I would imagine that an Estate Agent would give a valuation if you asked.

nompere

I've done it too many times!

Speak to an auctioneeer, tell him that you want an April 1974 valuation, and (most importantly) tell him that it will be submitted to Revenue and that he might have to defend his valuation.

There's no harm in telling him the sort of value that when indexed will not give rise to a tax liability. Revenue (and the Valuation Office) will have comprehensive records of sales and other agreed values, so it's not worth trying to be too cute.

barneystinson

I may be able to help u out dbran - without putting u thru the expense of an auctioneer/valuer...

PM me with specifics if u want.

NCG

Agree with above - normal auctioneer work. We have found if you are engaging an auctioneer anyway, as often will be the case if there's a CGT issue (eg selling the property), they won't even charge extra for the 1974 valuation as it's effectively only indexed back.

dbran

Hi

Thanks for all the replies. The client is still thinking about whether to sell or not but at least I know the best way to get an accurate figure for the CGT computation if it arises.

Thanks again

dbran