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HMRC internal manual

Capital Gains Manual

Short leases: disposal: cases within CG71170: procedure

If it is thought that the rule in CG71170 applies, and in particular if the taxpayer contends that it applies, you should refer the matter to the Valuation Office Agency. No special form is provided but a form CG20 (New) should be used, along with a covering memo explaining:

  • why the valuation is required; and
  • that the Valuation Office Agency should make the valuation on the basis of the factors which would have been known at the date of acquisition, or deemed acquisition, of the lease.

Copies of both the lease and the sub-lease should be sent to the Valuation Office Agency along with the valuation request.