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HMRC withdraws valuation checks

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HMRC’s Shares and Assets Valuation division is withdrawing its informal PAYE health checks and employment income (ITEPA) post-transaction valuation checks with effect from 31 March 2016, citing ‘severely stretched’ resources.

HMRC’s Shares and Assets Valuation division is withdrawing its informal PAYE health checks and employment income (ITEPA) post-transaction valuation checks with effect from 31 March 2016, citing ‘severely stretched’ resources. These checks often involve complex valuations, although almost 90% of applications are accepted as submitted. HMRC is also reviewing its valuation check services for approved share schemes. CGT post-transaction valuation checks using the CG34 process are not affected.

Issue: 1296
Categories: News
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