Free valuation service extended

By THIS IS MONEY
Updated:

 

The Inland Revenue is extending its free valuation service to companies completing their Corporation Tax Self Assessment returns.

From today companies may send valuations used in computing their capital gains to their Inland Revenue office for checking before they make their Corporation Tax Self Assessment tax returns.

This extends a service set up in April 1997 under the new Self Assessment system to provide individuals taxpayers and trustees with checks on valuations they use to fill in their tax returns. The Revenue says: 'This service has proved very successful, enabling many taxpayers to reach early agreement on valuations and pay the right amount of tax on time.'

To use the new service companies should send form CG34, with full information about the transactions to which the valuations relate, and together with any relevant computations, to their Inland Revenue office. The guidance notes on form CG34 set out all the information and documents that need to be provided.

Forms CG34 may be obtained from any Inland Revenue Enquiry Centre, or Inland Revenue office, or from the Inland Revenue Information Centre, Bush House, South West Wing, Strand, London WC2B 4RD.

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