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HMRC internal manual

Inheritance Tax Manual

Stocks and shares: valuation: Stock Exchange Daily Official List (SEDOL)

SEDOL gives actual values for UK shares, unit trusts, investment trusts and insurance linked investment products traded on the Stock Exchange. There are also a number of foreign share listings. You can usually find SEDOL listings either through EXTEL, or the Financial Times (FT).

SEDOL provides a list of the ranges of lowest to highest prices for which the investments were actually bought and sold during the day’s trading on the Stock Exchange. Values are shown in pence per share/stock/unit.

The Financial Times (and other newspapers) contains details of the previous day’s trading.

  • To ensure that you have the prices for the correct date, use the prices in the newspaper on the day after the date of death.
  • If the death falls on a Bank Holiday or a weekend (when the Stock Exchange is closed) you can use the figures from either the previous or next working day.


If a person died on Sunday, you could use the values from Friday or Monday (using Monday or Tuesday’s FT), whichever is most favourable to the taxpayer.