IHTM18242 - Teamworking with Shares and Assets Valuation: full enquiry cases

Where you have taken up a full enquiry ( IHTM29022), mark the valuation instructions for unlisted shares or any other asset to be valued by Shares and Assets Valuation (SAV) prominently with the words “Full Enquiry”.

In full enquiry cases, RRLT conduct research for the IHT caseworker.

• Attach a copy of the relevant information from the RRLT searches to the valuation instructions.
• On receipt of the instructions, SAV will immediately allocate the case to a Valuer who will be happy to undertake any additional research or obtain the company tax file.

When this information is to hand, the Valuer will arrange a meeting with you, the case owner, to consider the information gathered.

• You will both then discuss and agree a strategy for the valuation that fits with the case as a whole and takes into account SAV’s own strategic case approach.
• The Valuer may be involved at any one time with more than one valuation and for different taxes, which you should also take into account.
• You are responsible for making a note of the discussions, any points agreed and letting the Valuer have a copy.

Review progress of the valuation with the Valuer at 3 monthly intervals in face to face or telephone discussions.

• If the last conference was in a telephone conversation, seek to conduct the next discussion as a face to face meeting.
• Prepare a note of each case conference & pass a copy to the Valuer.

If an enquiry ( IHTM29022) becomes a full enquiry, inform the Valuer immediately and apply the review process described above from the time the status of the enquiry changed.