IHTM18026 - PC&S share checks: stocks and shares on an alternative market

PC&S will highlight any stocks and shares traded on alternative exchanges (IHTM18331), such as AIM, EASDAQ and OFEX.

• PC&S will check their values and advise you if the value can be agreed, or whether there are any amendments.
• If (rarely) PC&S cannot find a value, they will flag the investment “Val70”. In IHT:Edinburgh, this will be highlighted on form 83.

Business relief

Whether or not relief is claimed, consider the business relief instructions (IHTM18333). If 100% relief is available you will not need to query the valuation.

If business relief is not available,

• notify the taxpayer of any amendments if the amounts involved are above de minimis (IHTM18042) limits, or
• refer any “Val70” annotated shares to Shares and Asset Valuation (SAV) (IHTM18141) on form Val70 (IHTM18151), indicating clearly the exchange on which the shares were traded.

Large holdings

Do not accept any values for large holdings (IHTM18335) (over £100,000 in value) without first referring to SAV.