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HMRC internal manual

Shares and Assets Valuation Manual

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HM Revenue & Customs
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Liaison with Valuation Office Agency and other offices: References to the Valuation Office Agency - Risk Assessment

SAV is charged for the services provided by the Valuation Office Agency (VOA). It is therefore essential that references to the VOA are only made when it is cost effective to do so.

Before any opinion of value is sought from the VOA, a risk assessment of the property values (or other assets) must be undertaken in accordance with the latest best practice within SAV. If, following a risk assessment of the property values, a referral to the VOA is requested, an informal opinion should be requested. 

SAV valuers can no longer initially request a formal valuation due to the VOA’s own risk assessment procedures - see this chapter at SVM115060.

If there are a large number of properties, the SAV valuer will need to consider whether to undertake only a sample of references. If in doubt, the case should be referred to the Team Leader for advice. The Land Portfolio Valuation Unit (see this chapter at SVM115030 for details) can help in these situations. Valuers should refer the case to Information Support who will approach the Unit.

  Additional Guidance: SVM150000