CG77008 | Valuation: what to include

TCGA92/S272

If you are referring a case for valuation, you need to include as much of the following information as is appropriate:

• a full description of the asset. If, for example, it is a ship, whether it is a sailing yacht, a motor yacht, a houseboat, etc.

• the relevant facts of its history. For example, a history of any alterations or conversions, etc.

• the date of acquisition

• the original acquisition cost or the proposed acquisition value and the cost of any significant additional expenditure

• the date of disposal

• the amount of the disposal proceeds or the proposed disposal value

• the value(s) for which it was insured at the date(s) when a value is required

• the taxpayer's valuation and any available information about the qualifications of any valuer they may have employed.