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HMRC internal manual

Capital Gains Manual

Land: valuation: Valuation Office Agency: small valuations: de minimis limit

The purpose of this section is to avoid wasting the Valuation Office Agency’s time by requesting valuations to be checked where those valuations are in practice likely to be agreed and which are so small that they are unlikely to have any significant tax effect.

It is not possible to provide exhaustive guidance on the possible circumstances in which a land valuation might be used in the computation of a chargeable gain. If, exceptionally, you consider that a valuation which falls within these de minimis limits is, in the particular circumstances of your case, likely to be inaccurate and that it is important that it be considered then it may be referred to the Valuation Office Agency with a covering memo explaining the exceptional circumstances.