SE08002 - Emoluments: transfer of real property to employees and directors - consulting the District Valuer

In a case where property is transferred to a director or employee ( SE08001) the request to the District Valuer should:

• identify the land to be valued
• state that the request is for an informal valuation for the purposes of an Income Tax assessment under Schedule E
• specify the date at which the valuation is required
• name the employer and director or employee concerned
• specify the precise interest to be valued, for example 'Freehold interest subject to rights of occupation by ...'
• give details (if known) of the date of purchase of the land by the employer and its original cost price to him
• attach a copy of any tenancy agreement or 'licence to occupy' in force immediately prior to the sale to the director or employee and
• state the consideration paid (if any) by the director or employee to the employer.

See SE08003 for what to do when the District Valuer's report is received.