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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. 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