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Issue:
4342
/
Categories:
Comment & Analysis
, tax basics
, Capital Gains
, Income Tax
, Inheritance Tax
JENNY NELDER outlines the basics of share valuation for taxation purposes
KEY POINTS
- What is being valued will depend on the purpose of the valuation.
- The rules as informed by case law for tax valuations.
- What information must be taken into account?
- HMRC’s published valuation guidance.
- Differing approaches to valuations.
Cash is king they say and in arm’s length transactions in the real world the price paid is usually a reliable indicator of value.
However there are occasions in tax – say calculating the inheritance tax on an estate or the gain on a gift of unquoted shares – where no cash changes hands but we still need to arrive at a value to compute a liability.
Such occasions are not a daily occurrence for most high street practices and may be outside of their comfort zone. This...
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