Tax & probate
Valuations for tax, share schemes and probate.
A tax or probate valuation from The Business Valuers is an independent written valuation of a company or shareholding, fixed fee from £995 and delivered in 3 working days from receipt of the information we need. It sets out the basis used and the evidence behind it, so your accountant or solicitor has a defensible figure to rely on.
James Nelson
Founder & M&A Valuation Director, The Business Valuers
17 years in UK business brokerage and valuation. 1,000+ SME valuations completed. Former Head of Corporate Sales at Christie & Co.
Tax, EMI and probate valuations from £995. Your fixed fee is agreed before we begin.
Independent.We don't sell businesses. No success fee.
- 1,000+ UK business valuations
- 17 years of brokering & valuing experience
- Fixed fee from £995 — no hourly billing
- Report delivered in 3 working days
When you need this.
- —You're setting up or refreshing an EMI share option scheme and need a defensible exercise price.
- —You need a supporting valuation for an HMRC share transfer or gift.
- —You're working through a capital gains tax position and need an independent figure for your adviser.
- —You're an executor or solicitor establishing a share value for probate and inheritance tax.
- —You're valuing shares for a start-up, ahead of a funding round or option grant.
How we value it.
Every report triangulates a normalised-EBITDA earnings multiple as the primary method, a net asset valuation, and a discounted cash flow cross-check, benchmarked against comparable transactions. For HMRC-facing work, we use the recognised bases relevant to the purpose: open market value for share transfers and gifts, unrestricted and actual market value for EMI schemes, and open market value for probate under the Shares and Assets Valuation approach.
We are not tax advisers, so we do not advise on extraction, CGT planning or mitigation. The report gives your accountant or solicitor an independent figure and the evidence behind it, and they handle the tax position. Every document we rely on is listed in a report appendix, and the fee is agreed and paid before work starts.
Illustrative example
Setting an EMI exercise price.
A software company wants to grant EMI options to three senior staff. Normalised EBITDA is £300,000 and a benchmarked multiple of 5x gives an enterprise value of £1.5m. With no debt, the equity value is £1.5m across 1,000 shares, giving an unrestricted market value of £1,500 per share. After applying a discount for the restrictions on the shares, the actual market value used to set the option price is £1,200 per share. The report sets out the earnings normalisation, the multiple and the discount applied.
What you'll need to provide.
- —Statutory accounts for the last three years.
- —The most recent management accounts.
- —Details of the shareholding, option scheme or transfer the valuation is needed for.
- —The share register or cap table.
If anything is missing, we will tell you what matters and what doesn't.
What we don't do.
- —We are not tax advisers. We do not advise on extraction, CGT mitigation or tax planning; that is for your accountant or tax adviser.
- —We are not RICS-regulated. Where the business owns freehold property, we use an agreed property value, or value the business debt free, cash free, excluding the freehold.
- —We don't prepare accounts and don't sell businesses.
This is for you if…
- —You're setting up or refreshing an EMI share scheme.
- —You need a supporting valuation for an HMRC submission.
- —You're an executor or solicitor establishing a share value for probate.
Frequently asked.
What is a tax or probate valuation used for?
It is an independent written valuation used to support an HMRC share transfer, set the price for an EMI option scheme, support a capital gains tax position, or establish the value of a shareholding for probate and inheritance tax. It sets out the method used and the evidence relied on, so your accountant or solicitor has a defensible figure to work from.
How much does a tax or probate valuation cost?
Fixed fee from £995, agreed before any work starts. Complex or multi-entity matters are quoted individually.
How long does it take?
A written report in 3 working days from receipt of the information we need, usually the statutory accounts, recent management accounts and details of the shareholding or scheme.
Do you give tax advice on the extraction or CGT treatment?
No. We are not tax advisers. The report provides an independent valuation; the tax treatment, including extraction and CGT mitigation, is for your accountant or tax adviser to deal with.
Can you value shares for an EMI option scheme?
Yes. We assess the unrestricted market value and actual market value used to support an EMI submission, using the same normalised-EBITDA, net asset and discounted cash flow triangulation as our other reports, benchmarked against comparable transactions.
What if the business owns its freehold?
We are not RICS-regulated, so where the business owns freehold property we use an agreed property value supplied to us, or we value the business debt free, cash free, excluding the freehold.
Will HMRC or the court accept the figure?
We produce an independent, evidenced valuation that sets out our method and the information relied on. Acceptance is a matter for HMRC, the Shares and Assets Valuation office or the relevant process, and we will tell you plainly if a matter needs a different type of expert.
Request a tax or probate valuation.
A fully documented, independent figure from £995, with a fixed fee agreed up front.
Independent.We don't sell businesses. No success fee.
- 1,000+ UK business valuations
- 17 years of brokering & valuing experience
- Fixed fee from £995 — no hourly billing
- Report delivered in 3 working days