The VOA ( IHTM23002) use the initial appraisal to risk assess and filter all cases using a two- stage process.
The first stage consists of identifying straightforward work to be ‘fast-tracked’ and thereby to maximise available resources to focus on more complex, and resource-intensive, work. ‘Fast- track’ cases comprise those valuations that are acceptable as offered, or that can be agreed, following minimal exchanges with the taxpayer. Those valuations that are acceptable for the ‘fast track’ will be returned within 20 working days of receipt.
The second stage involves valuations that cannot be accepted on initial appraisal being categorised into 4 graduated ‘work bands’, reflecting
A specified amount of time – that expected to be required
to complete the valuation exercise – will be allocated
immediately. If the initial time allocated proves insufficient the
VOA will consider whether the issues, and potential tax at stake,
warrant further time being allocated to the valuation. This may
trigger an interim report (
IHTM23081), or phonecall, to the IHT
caseworker, to discuss tactics and a timetable for completion of
The VOA instructions/procedures should ensure that
The Stage 2 time allocation process, the mechanism for determining whether further time should be allocated, if necessary (see above) and close management scrutiny of internal VOA procedures should each contribute to provide focussed reports that take proper, and full, account of the risk-based compliance strategy.