IHTM18250 - Unlisted shares: provisional increase in value

Shares and Assets Valuation may notify you by way of progress report Sect103 or separate memo, of any case where, in the course of their investigation into the value of shares, the taxpayer suggests a revised value which

• exceeds the value previously returned by at least £25,000, and
• in the view of the Valuer represents a minimum value, and
• cannot then be agreed.

On receipt of such a notification, consider whether a provisional assessment to collect this further tax is worthwhile at that stage. If so,

• inform SAV, and
• make it clear to the taxpayer that the assessment is made provisionally on the basis of their revised valuation, and that the value of the shares is still under investigation and may need further adjustment.

If you do not make an assessment at that time, do not subsequently use the taxpayer’s revised valuation without first consulting SAV as to the current state of their negotiations.