Land: disposals: unascertainable deferred consideration: request for valuation
The request should be made by way of a memo and should be headed in the “subject” field: -
“Valuation of right to unascertainable deferred consideration - see VOA’s CGT Manual Practice Note 3”
The memo should give the following details.
- The reason for the valuation request.
- A description and the precise address of the land in question.
- The date of disposal of the land.
- The valuation (if any) of the right put forward by the agent.
The memo should be accompanied by
- A completed form CG20 (New);
- A copy of the sale agreement; and
- A plan of the land.
It is usual for land to be identified on plans by reference to coloured boundary lines, for example ‘the land edged red’. You should ensure that any plan forwarded with the valuation request clearly shows the coloured boundary lines if the land is so identified.