BIM51565 | Builders, property dealers & developers: income recognition: valuation: valuation reports

A valuation reported to you by the District Valuer is the considered opinion of our professional adviser and you must not compromise it by trying to negotiate an agreement at a different value when it is not accepted by the taxpayer.

If agreement cannot be reached between the taxpayer and the District Valuer, it is the First-tier Tribunal which resolves the issue.

At a hearing of the Tribunal on a valuation point which is relevant to the calculation of taxable trade profits, the assistance of the District Valuer as an expert witness will be required. This is arranged by BAI.