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HMRC internal manual

Shares and Assets Valuation Manual

Self Assessment: Post Transaction Valuation Checks (PTVCs) for CGT - Information Requirements

The CG34 requires the taxpayer who applies for a PTVC to provide:

Details of disposal

  • date
  • name and address of purchaser / transferee
  • reason for valuation, e.g. rebasing to 31/3/82; market value disposal

Valuation required

  • description of asset to be valued, including name of the company, the registration number (if known), and the number of shares to be valued
  • valuation date
  • valuation offered (per share)

Other information

  • capital gains computation for the disposal with an estimate of the tax liability for the year in which the disposal was made
  • details of any reliefs due or to be claimed in respect of the disposal
  • copy of any valuation report obtained
  • cost and date of acquisition of the asset
  • accounts for the three years up to the valuation date (if available)
  • any other papers or information which the taxpayer considers is relevant to the valuation

If a form CG34 is received by the Inspector with incomplete information, the Inspector should first point out the omission to the taxpayer. Inspectors should only agree to carry out the valuation check when the full information has been provided or the Inspector is satisfied that full information is not available. Inspectors do however have instructions which enable them to ask SAV to consider the valuation of unquoted shares where the taxpayer cannot reasonably provide the accounts of the company and where the accounts are not available locally to the Inspector.

  Additional Guidance: SVM150000