Guidance

Shares and assets valuations for tax

Find out about the HMRC Shares and Assets Valuations (SAV) team, how to get a Post Transaction Valuation Check and how to appeal a valuation.

From:
HM Revenue & Customs
Published
7 May 2019

Overview

SAV are a specialist HMRC team that values assets for other parts of HMRC. The area of HMRC that deals with your tax affairs may contact us to check if the value of assets you have declared to them is accurate.

We also deal with:

You cannot ask SAV to give you a valuation for:

  • aircraft
  • bloodstock (for example, race horses and livestock herds)
  • boats
  • chattels (such as antiques, art and jewellery)
  • foreign residential property
  • foreign shares
  • intangible assets (such as intellectual property, trademarks, patents and goodwill)
  • negligible value claims - find out more about negligible value claims and agreements
  • quoted and unquoted shares

We do not give:

  • UK land or buildings valuations for tax purposes - contact the Valuation Office Agency
  • post-transaction valuation checks for the Income Tax (Earnings and Pensions) Act
  • informal health checks for PAYE purposes

Post Transaction Valuation Checks

We may be able to help if you’ve disposed of assets and need their valuations checked and you’re:

  • an individual working out your Capital Gain liability
  • a company working out your Corporation Tax liability

This is called a Post Transaction Valuation Check.

You must fill in a CG34 form for us to carry out a Post Transaction Valuation Check, then send it to the address on the form.

Individuals can only request a Post Transaction Valuation Check:

  • after disposals relevant to Capital Gains Tax
  • before the date you must file your Self Assessment tax return

We may ask you for further information after we review your CG34 form.

If we do not agree with your valuation we will suggest a different valuation to negotiate with you.

Sometimes it will not be possible to agree values before your tax return has to be filed. You must still file your tax return and enter the amount of gain or loss that you expect us to agree a valuation on.

How to disagree with a valuation

We settle almost all of valuations that are referred to us by negotiation. If you cannot reach an agreement the valuation can be heard by the tax tribunal after you have filed your tax return.

If you think we have made a mistake or treated you unfairly, you can ask for the matter to be reviewed by the Assistant Director in charge of the part of SAV where the valuation was carried out.

Find out how to complain about HMRC if you’re still not happy with the outcome and want to complain.

What to expect from SAV

If you appoint an accountant or professional valuation firm we will deal directly with them. Make sure your professional adviser has all the facts, as you’ll be responsible for the accuracy of the information given to SAV.

When we have all the information we need we will try to reach an agreed valuation within 4 weeks of getting your request. If we have to ask you for more information it can take longer.

You can expect us to explain any actions we take. This includes why we:

  • would like to meet with you
  • need to question any explanation you have given
  • propose a valuation different to yours

If you or your professional adviser:

  • wants to meet to discuss the valuation we will try to arrange a meeting - this may mean the process will take longer than usual
  • write to us with a question or issue we will try to respond within 10 working days - if we cannot we’ll let you know the reason for the delay and when you can expect a full response

How SAV shares your information

Your company and its directors and shareholders have the right to the same level of confidentiality as all taxpayers.

We will only give information to people you have authorised, except in the limited circumstances allowed by law (such as at a tax tribunal).

Get help and more information

Read the HMRC SAV Manual to find out the information we use to value:

You can get advice about asset valuations if you:

Published 7 May 2019
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