IHTM18247 - Teamworking with Shares and Assets Valuation: if the valuation reaches an impasse

Encourage the Valuer to tell you whenever they experience a delay in obtaining information or agreeing matters of principle.

• Refer to your manager at the earliest possible opportunity on all disputed cases, having obtained all the relevant details from the Valuer.

Litigation section is ultimately responsible for taking forward Notices of Determination (NODs) ( IHTM37001). They offer the following guidelines for you and the Valuer to consider:

Reliefs

• The IHT Litigation team can often issue a NOD to settle the matter very quickly. (In cases where there is a dispute over BR, you and the Valuer should consult SAV Technical Advice Team at an early stage and they will consult both the SAV Appeals Team and the IHT Litigation Team as appropriate).
• Together with the Valuer, refer disputed entitlement to business or agricultural relief (as above) if the issue is not agreed after two substantive exchanges of correspondence.

It is not necessary to wait for HMIT valuations to be concluded to pursue a value NOD for IHT. The Litigation team would prefer Shares Valuation not to wait but to pursue the IHT point separately to get it to the First–tier Tribunal quickly.

(Where there is an impasse in negotiations, SAV caseworkers should consult their Team Leader and, where appropriate, the Appeals Team via their Assistant Director.)

Valuation Office

• If the Valuation Office is involved, they need to have at least provided a firm opinion on agreed facts or preferably a defendable on appeal value.

If this is not possible because information regarding, for example, tenancies is required, then you can consider an information notice under IHTA84/S219

Necessary information

If information is required we must be clear precisely what is needed and ensure that it is reasonable before issuing information notices.