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Contents

Official guidance
Inheritance Tax Manual

IHTM09000 · Investigating accounts and principles of valuation

  • IHTM09001 · Summary
  • IHTM09021 · Investigating accounts: purpose
  • IHTM09022 · Investigating accounts: general approach
  • IHTM09023 · Investigating accounts: best practice
  • IHTM09035 · Investigating accounts: estimated values
  • IHTM09036 · Investigating accounts: exempt or partly exempt estates
  • IHTM09061 · Investigating accounts: analysing bank statements
  • IHTM09062 · Investigating accounts: meetings with taxpayers
  • IHTM09080 · Investigating accounts: failure to reach an agreement with taxpayers
  • IHTM09051 · Raising enquiries: when to make your initial enquiries
  • IHTM09052 · Raising enquiries: purpose and aims
  • IHTM09053 · Raising enquiries
  • IHTM09071 · Negotiating a settlement: when to consider negotiation
  • IHTM09072 · Negotiating a settlement: examples of negotiating situations
  • IHTM09091 · Investigating no-grant cases: introduction
  • IHTM09100 · Investigating no-grant cases: initial research and information gathering
  • IHTM09102 · Investigating no-grant cases: approaching the accountable or liable persons
  • IHTM09103 · Investigating no-grant cases: accountable persons not identified
  • IHTM09104 · Investigating accounts: failure to comply with request to deliver an account
  • IHTM09105 · Investigating no-grant cases: what to do when you receive an account
  • IHTM09151 · Avoidance: introduction
  • IHTM09241 · Ascertained values: introduction
  • IHTM09242 · Ascertained values: when is a value `ascertained`?
  • IHTM09243 · Ascertained values: when is a value not ‘ascertained’?
  • IHTM09310 · Information sources: calendar of grants
  • IHTM09312 · Information sources: Electoral Register
  • IHTM09301 · Tax files: general
  • IHTM09302 · Tax files: types of file
  • IHTM09305 · Tax files: maintaining confidentiality
  • IHTM09331 · Taxpayer and Third Party (Information) Notices
  • IHTM09362 · How to use third party information: sources of information
  • IHTM09381 · Obtaining mandates: introduction
  • IHTM09383 · Obtaining mandates: form of mandate for general use (except for banks and building societies)
  • IHTM09391 · Third party information and the Data Protection Act 1998: introduction
  • IHTM09392 · Third Party Information and the Data Protection Act 1998: main provisions of the Data Protection Act 1998
  • IHTM09393 · Third party information and the Data Protection Act 1998: information you can ask for without falling foul of the non-disclosure provisions
  • IHTM09394 · Third party information and the Data Protection Act 1998: handling information obtained
  • IHTM09521 · Certificates of full disclosure and corrective accounts: general
  • IHTM09522 · Certificates of full disclosure and corrective accounts: when to ask for a certificate or account
  • IHTM09523 · Certificates of full disclosure and corrective accounts: issuing a certificate or corrective account
  • IHTM09540 · Certificates of full disclosure and corrective accounts: receiving the completed account or certificate
  • IHTM09531 · Examples of statements and certificates of full disclosure: statement to be issued with a corrective account
  • IHTM09532 · Examples of statements and certificates of full disclosure: certificate of full disclosure
  • IHTM09533 · Examples of statements and certificates of full disclosure: statement on the reverse of a certificate of full disclosure
  • IHTM09701 · Valuation: introduction
  • IHTM09702 · Valuation: specific types of property
  • IHTM09703 · Valuation: open market value
  • IHTM09704 · Valuation: main features of a sale in the 'open market'
  • IHTM09711 · Valuing property in an estate: general principles
  • IHTM09712 · Valuing property in an estate: valuing property together
  • IHTM09713 · Valuing property in an estate: including property otherwise left out of account for tax purposes
  • IHTM09714 · Valuing property in an estate: authority for valuing items of property together
  • IHTM09715 · Valuing property in an estate: valuing items of property separately
  • IHTM09731 · Related property: introduction
  • IHTM09732 · Related property: how the rules work
  • IHTM09733 · Related property: definition of related property
  • IHTM09734 · Related property: apportionment of aggregate value
  • IHTM09735 · Related property: the general rule for calculating the appropriate portion
  • IHTM09736 · Related property: the special rule for calculating the appropriate portion
  • IHTM09737 · Related property: when to use the special rule?
  • IHTM09738 · Related property: what happens when both the general and special rules apply?
  • IHTM09739 · Related property: property owned jointly by husband and wife, or civil partners
  • IHTM09751 · Sales of related property, etc: introduction
  • IHTM09752 · Sales of related property, etc: what the relief does
  • IHTM09753 · Sales of related property, etc: what the relief does not do
  • IHTM09754 · Sales of related property, etc: conditions for relief
  • IHTM09755 · Sales of related property, etc: property that qualifies for relief
  • IHTM09756 · Sales of related property, etc: who may make sales?
  • IHTM09757 · Sales of related property, etc: sales may not be made in conjunction with the sale of related or other property with which it was originally valued
  • IHTM09758 · Sales of related property, etc: no connection between vendor and purchaser
  • IHTM09759 · Sales of related property, etc: vendors must not acquire rights to sold property
  • IHTM09760 · Sales of related property, etc: price obtained on sale must be less than the original value
  • IHTM09761 · Sales of related property, etc: sales of shares in companies
  • IHTM09762 · Sales of related property, etc: relationship between s.176 and loss on sale of land relief
  • IHTM09763 · Sales of related property, etc: example of how to revalue property when both the loss on sale of land and sales of related property provisions apply
  • IHTM09771 · Restrictions on the freedom to dispose of assets: introduction
  • IHTM09772 · Restrictions on the freedom to dispose of assets: general rule for ignoring a restriction
  • IHTM09773 · Restrictions on the freedom to dispose of assets: what is a relevant event?
  • IHTM09774 · Restrictions on the freedom to dispose of assets: consideration given for the restriction
  • IHTM09775 · Restrictions on the freedom to dispose of assets: no consideration given
  • IHTM09776 · Restrictions on the freedom to dispose of assets: contracts made before 27 March 1974
  • IHTM09777 · Restrictions on the freedom to dispose of assets: option to purchase is exercised
  • IHTM09060 · Investigating accounts: reviewing replies
  • IHTM09095 · Investigating no-grant cases: procedures for pursuing delivery of an account (chart)
  1. Investigating accounts and principles of valuation: contents
  2. Valuation: specific types of property

IHTM09702 | Valuation: specific types of property

From HM Revenue & Customs · Inheritance Tax Manual

There are more detailed instructions elsewhere in the manual on how to value the following assets

  • Annuities linked to land (IHTM23176)

  • Apportionment (IHTM16172)

  • Barrister’s fees (IHTM10172)

  • Certificates of Tax Deposit (CTD) (IHTM10251)

  • Civil Service pay and pensions (IHTM10173)

  • Compensation for discrimination (IHTM10261)

  • Compensation for industrial injuries to coal miners (IHTM10269)

  • Compensation payments for personal injury and death (IHTM10263)

  • Death benefits under the National Insurance Acts (IHTM10265)

  • Deferred legacies (IHTM10157)

  • Farm Cottages (IHTM24045)

  • Goodwill (IHTM25108)

  • Grants from Compensation Fund of Law Society and Scottish Solicitors’ Guarantee Fund (IHTM10320)

  • Improvement grants (IHTM23182)

  • Interest in expectancy subject to overriding power of appointment (IHTM16000)

  • Interests in real and leasehold property (IHTM23000)

  • Leases for life or determinable on death (IHTM23189)

  • Leasehold Reform Act 1967 (IHTM23193)

  • Legal Rights (IHTM10321)

  • Lordships of the Manor (IHTM23194)

  • Lump sums payable in respect of Service under the Crown, etc. (IHTM17132)

  • Milk Quota (IHTM23196)

  • Partnership shares (IHTM25101)

  • Potato quota (IHTM23199)

  • Premium Bonds (IHTM10081)

  • Quoted stocks and shares (IHTM18061)

  • Redundancy payments (IHTM10174)

  • Retrospective pay awards (IHTM10175)

  • School composition fees (IHTM10340)

  • War Loan (IHTM04306)

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