CG16603 - Valuation: post transaction valuation checks: information to be provided

Each request for a valuation check should be made on form CG34 which provides information about the disposal and about the context in which the valuation is required. The procedure that taxpayers need to follow and the information and documents they must provide is explained within ‘An Introduction to Capital Gains Tax’ which can be found on the HMRC website. In addition to the form you should receive the following:-

• a copy of the CGT computation for the Self Assessment year showing how each valuation has been used and an estimate of the capital gains tax liability resulting from the disposal
• details of any reliefs due or to be claimed in respect of the disposal
• a copy of any professional valuer's report obtained or an explanation of how the valuation has been arrived at.

For unquoted share valuations you should receive the accounts of the company for the three years up to the valuation date. If the taxpayer cannot reasonably provide these accounts and they are not available to you locally you can still ask Shares and Assets Valuation to consider the valuation. You should submit a CG30 with a covering note.

If you are provided with incomplete information you should point out the omission. You should only agree to carry out the check when full information has been provided or you are satisfied that full information is not available. If full information is not provided it is unlikely that the case can be dealt with quickly by the valuer.