I bought a property in 1998 and lived in it for 3 years whilst re-wiring it etc. I then rented it out. In 2004 I took out a new mortgage on it so that I could add my wifes name to mortgage and borrow some money. My wife stupidly got rid of all the paperwork in 2004 relating to the mortgage I originally had with Halifax from 1989-2004 so we only have the new mortgage details showing we borrowed £75k on house valued at £260k. We have tried asking Halifax for closing statement but have had no reply to date as it is over 10 years ago since we had that mortgage. As I am now disabled and unable to work I sold the house in August 2013 and now need to fill in capital gains tax form. Do I work out the gain from the first cost of the house in 1989 which I think was £80k or from the cost in 2004 of £260k (valuation) when wife and I took out new mortgage?
You don't seem to have answered my query which is do I use the original purchase price in 1989 when I bought it on my own or the purchase price for the property in 2004 when I took out a new mortgage with my wife on the same property.