CGT on an inherited Foreign Property

[ohtwo]

This is a question in relation to Capital Gains Tax on an inherited property.

Revenue require a valuation of the property at the time of death:

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11. What CGT arises on death?

None, the assets are deemed acquired by the beneficiaries (or the personal representative) at market value at date of death. Any gains arising on a subsequent disposal attracts CGT on the difference between the market value at date of death and the subsequent proceeds or the market value as appropriate.
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What if this is proving impossible to get as the death was 10 years ago and the property is in a country outside Europe where a valuation from 10 years ago is proving impossible to get?

Does anyone know if there is an alternative option to take?

Thanks

 

[John Conlon]

Market value at death is the legally defined basis. Have you tried the major estate agencies who have international links. They should be able to get a value.