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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Land: valuation: undivided shares: report to Valuation Office Agency

When a request for one or more valuations is made on a form CG20 to the Valuation Office Agency any which are required on an undivided share basis should be clearly specified together with the percentage share or shares to be valued.

Otherwise the Valuation Office Agency will value on an entirety basis.

It is important that valuations of all interests in land held in undivided shares are considered together. As soon as you become aware that the valuation you are looking at is of an undivided share of land then appropriate action should be taken to ensure that all of the shares in that land are considered together. Any valuation request for an undivided share where more than one taxpayer is concerned should be clearly marked and a memo attached giving relevant details of the other shares.

Separate forms CG20 in respect of the valuation of each share are required for each taxpayer.