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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Compensation: displaced tenants: licensed premises: computation

It is unlikely that any actual expenditure will have been incurred in acquiring the tenancy, but if the tenancy existed at 31 March 1982 it may have had a value at that date. Such a value would be likely to be small since such tenancies are normally non-assignable and, as noted earlier, have little security of tenure. However, in cases where the 31 March 1982 value of the tenancy needs to be determined for rebasing and/or indexation allowance purposes, you should seek advice from the Valuation Office Agency.