CG16601 - Valuation: post transaction valuation checks: the new service

A request for a post transaction valuation check can be made at any time after the transaction has taken place but before the Return is filed for the period in which that valuation is to be used in the computation of a CGT liability. You must not accept requests for pre-transaction valuation checks.

An application for a post transaction valuation check can also be made where there is a deemed disposal of an asset following a claim that an asset has become of negligible value, see CG13121-46 for general guidance on negligible value and specifically CG13130-1 where the claim is that shares have become of negligible value.

We have undertaken to check valuations, either to agree the valuation put forward or to provide an alternative that we can accept. If necessary our valuers will enter into negotiations to reach agreement to a valuation. But taxpayers must put forward a valuation to be checked, either a professional valuation or their own. The service is NOT to be used by taxpayers to obtain valuations on request.

Joint owners of an asset, such as the members of a partnership, may approach you collectively to check a valuation. No objection should be made to such an approach if it is convenient.

Our valuers may not always be able to provide an alternative valuation before the filing date for the Return, see CG16611.