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HMRC internal manual

Capital Gains Manual

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HM Revenue & Customs
Updated
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Land: valuation: unagreed

If the Valuation Office Agency cannot negotiate an agreement you will receive an unagreed valuation. THIS VALUATION IS THE CONSIDERED OPINION OF OUR PROFESSIONAL ADVISER AND YOU MUST NOT COMPROMISE IT BY TRYING TO NEGOTIATE AN AGREEMENT AT A DIFFERENT VALUE.

If agreement on a land valuation cannot be reached between the taxpayer and the Valuation Office Agency, and the taxpayer appeals to the Tribunal against the conclusion and amendment based on the valuation opinion of the Valuation Office Agency, it is the Lands Chamber of the Upper Tribunal (the Lands Tribunal) and not the First-tier Tribunal which resolves the issue.

The Lands Tribunal is a Chamber of the Upper Tribunal with the power to award costs, which may be substantial. If a reference to the Lands Tribunal is necessary we are represented by HMRC’s Solicitor’s Office if legal representation is considered necessary (see CG74550).

Capital Gains Technical Group are responsible for referring the valuation dispute to Solicitor’s Office to prepare for a reference to the Lands Tribunal.

But if the land valuation and the underlying tax treatment are disputed, the appeal may be to the First-tier Tribunal of the Tax Chamber, who may refer the land valuation dispute to the Lands Tribunal to determine. Once the land valuation dispute is determined, the First-tier Tribunal will be in a position to decide the disputed tax treatment, taking into account the outcome of the land valuation dispute.

For guidance on appeals, reviews and Tribunals see the Appeals Reviews and Tribunals guidance manual (ARTG).