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HMRC internal manual

Inheritance Tax Manual

From
HM Revenue & Customs
Updated
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Reconsideration by HMRC: Valuation Office Agency

Where the VOA (IHTM23002) is able to accept the taxpayers values ‘as returned’ (IHTM23144), you must assume (unless there is information on the file to the contrary) that the acceptance of their figures has been notified to them by the VOA, and that consequently, there has been an agreement for the purposes of this instruction.

Where the report shows an agreed figure, which is different from that returned by the taxpayers, there will have been negotiations between the VOA and the taxpayers, or their agents, and an agreement for the purposes of this instruction. If it becomes material, you should ask the VOA for the date of the agreement for the item in question.