SVM115040 | Liaison with Valuation Office and other offices: Procedure for References - introduction

All referrals to the Valuation Office (VO) should contain:

• a form SAV VOA1 (available on SEES)

• a form Cap 37

• all relevant information available regarding the property (for example full description, maps and plans) including details of acquisition values and sales and details of any valuations previously provided by the VO.

• The tax computation or some reference to the tax at stake if available. It will be helpful for SAV to provide an indication as to the nature of the referral in terms of the perceived risks to tax and whether a broad overview is all that is required, or a firm and formal view is necessary.

Where valuers are satisfied that an opinion of value is necessary, the parties should, unless sufficient information has already been furnished, be asked to

• complete a form Cap 37 and attach a copy of any valuation obtained in respect of the property

• state to whom the VO should apply to inspect the property

• state with whom the VO should negotiate.

It is important for valuation requests to be made at the earliest opportunity.

Each company must be the subject of a separate reference.

When making a referral to the VO, suitable cross-referencing checks should be made where appropriate to identify existing ongoing work.

The objective in each case is to ensure that a common basis of valuation, if appropriate, is adopted.

The VO will supply by request valuations on alternative valuation assumptions for example where details of a tenancy cannot be fully ascertained. The assumption(s) to be made should be clearly stated.

Additional Guidance: SVM150000