Valuation

The act or process of determining the value of an asset is called a 'valuation'.  Commonly, in connection with tax reporting, these assets would include property, or other assets that have been disposed where a 'market value' has not been achieved, for any reason, or there is a question over the amount achieved and accordingly reported.  Also, where a disposed asset's value at a certain prior date is required for reporting under certain circumstances.  The valuation would normally be carried out by a third-party professional, although HMRC do have their own department for this called the 'SAV' team (Shares and Assets Valuations).