In Neil McArthur & Thomas Bloxham v HMRC [2021] TC08186  the First Tier Tribunal (FTT) determined the market value of shares that had been gifted to charity after discounting the valuations offered by two conflicting expert witnesses.

This case was a lead case with the common issue being the value of BBG shares at various dates. 

The FTT considered the following in determining the market value of the shares at those dates as a preliminary issue to the lead case:

After considering the factors above, the FTT concluded the market values were as follows:

Useful guides on this topic

Valuation: Companies
When might a tax valuation be required? What are the main principles in valuing unquoted companies?

Gifts to Charity
Gifts to Charity: can you obtain tax relief on a gift to your local charity or community amateur sports club? What about gifts to your church, mosque, synagogue? Do you need to be a taxpayer? Are there any tax reliefs?

Closure notices
When does HMRC issue a Closure Notice? Can a taxpayer demand one? Are there appeal rights?

How to appeal an HMRC decision
Disagree with a HMRC decision? How to appeal, what type of decision can you appeal and what are your different options when you disagree with HMRC? What are the key steps in making an appeal?

External links

Neil McArthur & Thomas Bloxham v HMRC [2021] TC08186


Squirrel ad

Are you enjoying our content? 

Thousands of accountants and advisers and their clients use as their primary TAX resource.

Register with us now to receive our unique FREE Tax Planning Tips and Advice Guide & our FREE OMB Newsletter.