CA50340 - MEA: Qualifying expenditure: Acquisition of land: District Valuer
In cases where a claim is made in respect of a mineral asset
comprising an interest in land situated in the UK, ask the District
Valuer for his opinion of the undeveloped market value.
Use form 453, applying the general instructions relating to
submission of forms CG20. Include a copy of a site plan if at all
possible, especially for not negotiated valuations.
If no plan has been obtained, but it is considered that a not
negotiated value should be requested, then record what attempts
have been made to obtain one on the form 453.
Also provide:
- a description of the state of the development and usage of the land, with reference to any planning permission in force at the date the valuation is required,
and
- details of any buildings and structures on the land.
Where a valuation dispute is to proceed to a Commissioners' hearing, the case must be referred to Energy Group (Oil Taxation Office), who will advise on handling of the case, in consultation with the Chief Valuer.
