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HMRC internal manual

Shares and Assets Valuation Manual

HM Revenue & Customs
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Liaison with Valuation Office Agency and other offices: Procedure for References - completion of forms

Completion of SAV VOA1 and Cap 37

The valuer must ensure that valuation requests for properties situate in England and Wales are sent to the Nottingham Initial Appraisal Unit (IAU) of the VOA. Requests for properties situate in Scotland should be sent to the Glasgow office of the VOA.

Multi-District cases

Where property in both England or Wales and Scotland is involved, a separate SAV VOA1 should be completed for the IAU and the Glasgow office of the VOA.

In multi-district cases all correspondence with the VOA should be filed in the Sect 106 and the cover noted, as appropriate. In this connection values agreed with the parties should be noted in ink. Where a VOA caseworker reports an informal opinion of value, or a formal opinion which has not been agreed, this should be noted in pencil on the Sect 106.

In a multi-district case, any mineral undertaking included in the properties listed should be referred to the specialist mineral valuer within SAV before the forms SAV VOA1 have been issued to the Valuation Office Agency (VOA). See this chapter at SVM115100 regarding the valuation of mineral undertakings.

All relevant information should be given regarding each property including full address, tenure and details of any lettings (i.e. the rent payable, the tenant, date of commencement and terms of the tenancy). Should it be necessary to make a reference without full information, a brief explanation of the reason should be given to the VOA.

It is a requirement of the VOA that a form Cap 37 is included with all references. Accordingly where a form Cap 37 has not been completed by the parties SAV must prepare a form showing as a minimum the address of the property and any value offered - and add the words prominently ‘Prepared in SAV’.

  Additional Guidance: SVM150000