Have been happy with my accountant but not sure if he's up to speed when it comes to CGT. My house being sold (that's going to be liable for CGT) has been partly rented out and my accountant didn't seem to think that the VALUE at the time of renting it out mattered too much. He wanted me to send him a settlement statement from at the time I brought and settlement statement at the time I sell it. I though the value of it at the time I started renting it out was a VERY important figure as the CGT is based on (amongst other things) the increase in value between this figure and the price that it's sold for?? Soooo, I just want to speak to another accountant (one that specialises in CGT) to see what they have to say. I need to get moving on this quick because if I DO need to get the property valued then I need to do it while I still own it/can access it….
THANKS for any help!
Also wanted to mention, my accountant said that CGT is calculated using the date of SETTLEMENT not the date on the contract (when it's exchanged) which is what I thought was used…..