Get a share scheme valuation from HMRC

Agree the value of shares if you operate Enterprise Management Incentives or a Share Incentive Plan, or if you have Company Share Option Plans or Save As You Earn share schemes.

You can ask the HMRC Shares and Assets Valuation team to agree:

Agree an EMI valuation

Fill in a VAL231 form to get an EMI valuation.

You’ll need to propose the unrestricted market value and actual market value for any shares under options that carry restrictions which affect their market value.

How long EMI valuations are valid for

Valuations for EMIs are valid for 90 days from the date of the agreement.

Agree a SIP valuation

Fill in a VAL230 form to get a SIP valuation.

Information you’ll need to give includes:

  • background information to support your proposal

  • your proposed value for the shares

How long SIPs valuations are valid for

SIP valuations can last up to 6 months but will end early if a significant event happens which is likely to impact the share value. You must re-apply to have your shares valued after a significant event.

You can also ask for the valuation period to end any time in the 6 months by contacting SAV.

After 6 months, you may apply to extend the valuation period by writing to SAV.

You’ll need to confirm in your letter that there have not been any significant events since the original valuation, and none are likely to happen in the period that you’re asking for the extension to cover.

Significant events

Significant events include (but are not limited to):

  • any change (completed or actively contemplated) in the share or loan capital of the company
  • any arm’s length transaction (completed or actively contemplated) involving shares of the company
  • negotiations or preparations for a flotation or takeover
  • any declaration of a dividend on any class of shares in the company
  • the publication by the company of any new financial information, for example, the annual accounts or interim results or announcement

Agree a shares valuation for a Company Share Option Plan or Save As You Earn share scheme

To agree a market value for your shares, write to SAV and include:

  • a proposed value for your shares
  • 3 years of accounts before the valuation date, or if the company is newly trading, any accounts available at the valuation date
  • any other information that might be relevant (for example, plans to sell or float the business)

Get more information

Contact SAV to get advice about shares valuations.

Find out what to expect from SAV and how SAV shares your information.

Published 7 May 2019