CG66890 | Relief for Gifts of Business Assets: Valuation

In order to calculate both the held-over gain and, where applicable, the chargeable gain arising on the gift, the market value of the asset at the date of disposal will need to be ascertained.

Where the gifted asset is land in the United Kingdom, the Valuation Office (VO) can provide assistance. A submission to them is made using form CG20, which is available on SEES.

Where the gifted asset consists of unquoted shares or securities, form CG30 can be used to make a submission to Shares and Assets Valuation (SAV). Likewise, SAV can also provide valuations for intangible assets (e.g. trademarks or goodwill), foreign shares, foreign residential property, bloodstock, chattels, boats and aircrafts.

Where hold-over relief is available to cover the whole of any potential gain, it is likely that the valuation can be deferred under the terms of Statement of Practice 8/92. CG66891 provides more information on this.