Agricultural tenancy, hypothetical purchaser

Appointments and

Appropriated assets

Ascertained values

Asset derives its value from land


Assets held on 6 April 1965

Assets held on 6 April 1965 time-limit for election

Assets pre-6 July 1973


Calculation of taxable gains

Capital gains tax

Chargeable gains


– see Appeals

Best price


Client book, method for accountancy firms

Goodwill in accounting practice, multiple of gross recurring fees as basis

Hypothetical purchaser

Hypothetical vendor

Ignored restrictions


Land subject to tenancy

Negligible values

Occasions when valuation is not required

Reasonable prudence

Shares, calculation of market value

Shares, date of death

Shares, inclusion of goodwill

Special purchaser

Unquoted shares, costs of appeal

Valuation required for

Companies, compliance costs


Pre-31 March 1973

Principle in Gray v IR Commrs

Devaluation of sterling

Foreign insurance funds

Securities acquired with borrowed foreign currency


Dwelling house, removal of conservatory by assignees of lease

Employment-related securities, disposal for more than market value

Enterprise management incentive shares

Estate duty

Estimated valuations

Ethane, petroleum revenue tax

Exchange control restrictions pre-13 December 1979

Expenses relief

Farm stock and crops etc.

For IHT purposes


Gifts and transactions between connected persons pre-20 March 1985

Gifts holdover relief

Gifts of business assets

HMRC comments

Household and personal goods

IHT binding for CGT, values ascertained for

Income tax on employment income

Inheritance tax

Agricultural property relief

Assets forming part of estate, free movement of capital

Business property relief

Estimated property valuation, executor acting in accordance with accepted principles

Freehold and tenancy interest in land


Limitation period, location of centre of company management

Reserved rights of life annuity

Unit trusts, value of holding at date of death

Unquoted shares and securities


Land subject to tenancies

Land, capital gains tax


London Stock Exchange references pre-25 March 1973

Of assets on death

Part disposal of land

Pension scheme excess assets

Permitted area

Petroleum revenue tax

Crude oil


Light gases post-1 January 1994

LPG and condensate

Offshore fields, valuation point

Onshore fields, valuation point


Quoted shares and securities

Quoted option

Special circumstances

Statutory rule

Unit trust

Real estate investment trusts

Related property

SAYE share option schemes

Self-assessment enquiries, unagreed capital gains tax valuations

Series of transactions

Servant's houses

Shares, recognised stock exchange

Single simple transaction


Change of method, inspector's refusal to apply practice statement

Change of persons carrying on trade, stock relief

Tax on trading transactions


Time-limit, company leaving a group

Trading stock

Change from one valid method to another

Continuing business

Discontinuance of trade

Transitional provisions

Unquoted securities

Unquoted shares and securities

50 percent holdings

Costs of appeal


Fixed interest

Influential minority holdings

Information available to the purchaser

Inheritance tax, open market value

Lack of marketability

Majority holdings

Minority holding

Minority holdings

Non-voting shares

Pre-emption rights

Preference shares


Restrictions imposed by company's articles

Shareholders' agreements

Small minority holdings

Statutory fiction

Transfer of shares, restriction

Value factors

Voting power

Work in progress