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HMRC internal manual

Capital Gains Manual

Assets: valuation: responsibility for making valuations

A person who has been issued with a return may be required under TMA70/S8 to make a return of chargeable gains. If no return has been issued TMA70/S7 requires a person who is chargeable to Capital Gains Tax to notify HMRC, see CG20220.

The return or notification should be of chargeable gains computed in accordance with the statute. If this requires a valuation it is the customers’ responsibility to provide it.

You should not normally obtain or prepare valuations on behalf of a customer. However, if the customer has no professional assistance, in appropriate cases you may assist in preparing a suitable computation.