Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

Business Income Manual

From
HM Revenue & Customs
Updated
, see all updates

Builders, property dealers & developers: income recognition: valuation: valuation reports

A valuation reported to you by the District Valuer is the considered opinion of our professional adviser and you must not compromise it by trying to negotiate an agreement at a different value when it is not accepted by the taxpayer.

If agreement cannot be reached between the taxpayer and the District Valuer, it is the First-tier Tribunal which resolves the issue.

At a hearing of the Tribunal on a valuation point which is relevant to the calculation of taxable trade profits, the assistance of the District Valuer as an expert witness will be required. This is arranged by CTISA (Technical).