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HMRC internal manual

Capital Gains Manual

Valuation: more than one interested person:Tribunal: application

Where a market value or an apportionment

  • may affect the Capital Gains Tax liability of more than one person and
  • has not been a material question in an appeal

any interested person may apply to First-tier Tribunal to determine the market value or the apportionment by an application under regulation 9(1).

For this purpose a market value or an apportionment is a material question in an appeal even if there is no dispute about that value or apportionment between the appellant and the Inspector. For example, in a transaction between connected persons the vendor and the Inspector may agree on the value of the asset at the date of sale. If the purchaser does not agree that valuation he or she is entitled to make an application to the Tribunal under regulation 9(1).

The Inspector will be a party to proceedings under regulation 9 but is not entitled to make an application. So you cannot use regulation 9 to litigate a valuation dispute where there is no assessment under appeal. Conversely an interested person as defined at CG16430 is able to use regulation 9 to litigate such a valuation even when there is no assessment under appeal.


An application under this regulation should be made by notice in writing sent to the officer of the Board. The notice should state

  • the question for determination and
  • to the best of the applicant’s knowledge, the name and addresses of the other person whose liability to Capital Gains Tax may be affected by his or her question.


Any proceedings under regulation 9 are to be carried out so far as possible as if they were carried out in relation to an appeal against an assessment to Capital Gains Tax. Accordingly the instructions above about settling appeals by agreement and determining appeals before the Tribunal apply to applications under regulation 9.