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HMRC internal manual

Capital Gains Manual

Land: valuation: Valuation Office Agency: multiple land valuation scheme

Any taxpayer can be included in the scheme whether

  • an individual
  • a trust
  • a company or a group of companies
  • any other taxable person.

The criteria for formal inclusion in the scheme are

  • A minimum of 30 valuations for the taxpayer which need to be referred to the Valuation Office Agency for a single accounting period or year of assessment. A group of companies may be considered together so that if there are 30 valuations needed for the whole group in the accounting period the group can be considered for inclusion in the scheme.
  • Computations are presented by the taxpayer in a way which will allow the Valuation Office Agency to identify the property to be valued.
  • An accounting period or year of assessment can only be considered for inclusion if no references have yet been made to the Valuation Office Agency for any of the valuations which need to be reviewed.

A selective or sample based approach may also be helpful and may be used where you seek initial advice to inform risks or agree a pragmatic approach where there are multiple valuations involved that do not strictly meet the formal criteria above.

If in doubt speak to the Land Portfolio Valuation Unit where any case involves multiple property issues.

If you have a taxpayer or a group of companies which you think will be suitable for inclusion in the scheme for any year of assessment or accounting period your papers should be referred, to the

Land Portfolio Valuation Unit,
5th Floor,
Sherbourne House,
1 Manor House Drive,
CV1 2TG.

Contact : Land Portfolio Valuation Unit (LPVU) web page 

Tel: 03000 503983/505013