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HMRC internal manual

Capital Gains Manual

Land: valuation: unagreed: current tax effect

When you receive an unagreed valuation and there is a tax effect you should check that

  • you have an open enquiry into a self assessment to Capital Gains Tax or to Corporation Tax on chargeable gains for the appropriate year or accounting period,


  • that you have an open enquiry into a claim under TCGA92,


  • that the valuation is for the purpose of computing a chargeable gain or allowable loss and not, for example,

    • a trading stock valuation
    • a valuation on a transfer from a company to an employee at undervalue where CG16270+ applies
  • that there is no outstanding matter which will prevent any gain from being a chargeable gain, for example, private residence relief, see CG64200+.

If all of these conditions are fulfilled you should write to the taxpayer or their agent, in the terms outlined at CG74521, and send a copy to the Valuation Office Agency.