(Previously SE2997)
The procedure for obtaining valuations of shares for the
purpose of charges to tax under FA88/S77 - FA88/S80 is the same as
for the valuation of shares for other Scshedule E purposes
explained at SSM7.2 - SSM7.12.
For shares received under formal employee share schemes the
network office can obtain valuations of shares by sending form P388
(for listed shares) or form P389 (for unlisted shares) to the
Employee Share Schemes Unit.
For shares received by employees or directors other than
under a formal shares scheme the accounts district should contact
Shares Valuation Division direct. Forms P388 or P389 should still
be used. The CG30 is not the right form for Schedule E valuations.
In cases where it is agreed with the company that a charge to
tax willl arise under one of the three charging sections, the
company should be asked to provide its own valuations of the shares
at the relevant times before forms P388 or P389 are prepared.
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