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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Valuation: post transaction valuation checks: the service

A request for a post transaction valuation check can be made at any time after the transaction has taken place but before the Return is filed for the period in which that valuation is to be used in the computation of a capital gains liability. Requests for pre-transaction valuation checks can not be accepted.

An application for a post transaction valuation check can also be made where there is a deemed disposal of an asset following a claim that an asset has become of negligible value, see CG13120 for general guidance on negligible value and specifically CG13140 onwards where the claim is that shares have become of negligible value.

We have undertaken to check valuations, either to agree the valuation put forward or to provide an alternative that we can accept. If necessary our valuers will enter into negotiations to reach agreement to a valuation. But customers must put forward a valuation to be checked, either a professional valuation or their own. The service is not to be used by customers to obtain valuations on request.

Joint owners of an asset, such as the members of a partnership, may make a collective approach to check a valuation. No objection should be made to such an approach if it is convenient.

Our valuers may not always be able to provide an alternative valuation before the filing date for the Return, see CG16611.