IHTM23141 - What to do on receipt of the VOA's final report: introduction

When you have requested a formal valuation using a VOA 1 or VOA 2 ( IHTM23041) the VOA ( IHTM23002) will send a report in due course.

In order to make a report the VOA will follow all or part of a 5 stage process ( IHTM23221). The VOA will form an opinion of value (o/v) and notify it to this office on VO 1103 together with other relevant information, such as

• the amount of any increase or decrease compared with the taxpayer's original figure
• whether the value is agreed ( IHTM23147)
• whether the property has been sold, or
• is in the market for sale

The VOA will normally report by e-mail ( IHTM23111). Where, exceptionally, paper reports are received, the copy of the IHT405 which accompanied the VOA 1 or 2 is likely to be returned as well. The first time the value is amended the IHT405 will be noted in red. Subsequent alterations are made in green and then black.