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HMRC internal manual

Capital Gains Manual

Valuation: post transaction valuation checks: information to be provided

Each request for a valuation check should be made on form CG34 which provides information about the disposal and about the context in which the valuation is required. The procedure that customers need to follow and the information and documents they must provide is explained within CG34 and the notes that accompany the form which can be found on the HMRC website. In addition to the form you should receive the following:-

  • a copy of the capital gains computation for the Self Assessment year showing how each valuation has been used and an estimate of the capital gains liability resulting from the disposal
  • details of any reliefs due or to be claimed in respect of the disposal
  • a copy of any professional valuers report obtained or an explanation of how the valuation has been arrived at.

For unquoted share valuations, and goodwill valuations, you should receive the accounts of the company or business for the three years up to the valuation date. If the customer cannot reasonably provide these accounts and they are not available within HMRC, Shares and Assets Valuation should still be asked to consider the valuation. A form CG30 should be submitted with a covering note.

If incomplete information is provided the omission should be pointed out to the customer. The request for the valuation check will only be accepted when full information has been provided or it is clear that full information is not available. If full information is not provided it is unlikely that the case can be dealt with quickly by the valuer.