I8.342 Valuation of land—overview
Where real or leasehold property situated in the UK has to be valued for IHT purposes, all matters concerning the valuation and the extent of any agricultural value are referred by HMRC to the Valuation Office Agency1, which will usually negotiate directly with the taxpayer.
When the account is delivered by the taxpayer to HMRC a provisional assessment will be made pending final agreement of values. If agreement cannot be reached by negotiation, the Board will issue a notice of determination and the person on whom the notice is served can, within 30 days, appeal by notice in writing to the Board specifying the grounds of an appeal2.
If a valuation cannot be agreed it may be referred on appeal to the Upper Tribunal (Lands Chamber)3 — see I11.315.
The
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