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  • Formaat: Paperback / softback, 872 pages, kõrgus x laius: 248x156 mm, kaal: 1218 g
  • Ilmumisaeg: 30-Nov-2014
  • Kirjastus: Bloomsbury Professional
  • ISBN-10: 1780435517
  • ISBN-13: 9781780435510
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Practical Share Valuation 6th editionSuurem pilt
  • Formaat: Paperback / softback, 872 pages, kõrgus x laius: 248x156 mm, kaal: 1218 g
  • Ilmumisaeg: 30-Nov-2014
  • Kirjastus: Bloomsbury Professional
  • ISBN-10: 1780435517
  • ISBN-13: 9781780435510
Teised raamatud teemal:
Püsilink: https://www.kriso.ee/db/9781780435510.html
Märksõnad:
Practical Share Valuation, Sixth Edition helps practitioners to understand and tackle the issues involved in preparing and reviewing a valuation of unquoted shares or intangible assets. Whether the valuation is being undertaken for commercial, fiscal or matrimonial reasons, or as part of the more routine assessments required for tax purposes, this book contains the necessary guidance.

Packed full of practical resources

A rich source of easily accessible information, it supplies hints and tips for navigating the potential minefield of share valuations. Discussion of the various methods of analysis and the influence of the Stock Exchange is complemented by example valuation reports. Advice on using the International Private Equity and Venture Capital Valuation Guidelines, the standards issued by the International Valuation Standards Council and the RICS Valuation Standards is also provided.

Major cases from 2009 onwards

Drawing on a wealth of case law, the expert authors examine the valuation principles that have emerged from decided cases concerning the valuation of shares, partnership goodwill, land and intellectual property since the previous edition was published. Noteworthy cases include Tower M Cashback LLP v HMRC, Parties of the Vaccine Research Ltd Partnership & Anor v HMRC and Iliffe News & Media Ltd & Ors v RCC.

New content to keep you one step ahead

The sixth edition has been comprehensively updated throughout and offers detailed coverage of:

Legislative changes such as Finance Act 2014 and Companies Act 2006 Revisions to the HMRC Shares and Assets Valuation Manual The OECD report on the transfer pricing of intangibles Changes to IFRS and the upcoming move to FRS 102 RICS Valuation Standards VPGA 3, VPGA 4 and VPGA 6

A fresh look for 2014

For the first time, Practical Share Valuation adopts our trademark user-friendly structure with signposts at the beginning of each chapter to summarise key topics and focus points throughout to highlight important issues. Pitfalls are clearly marked in the text, quickly alerting you to areas which may trap the unwary.

Who should buy this book?

Combining decades of the authors first-hand experience, Practical Share Valuation is an invaluable reference guide for valuation practitioners, tax practitioners, lawyers, accountants and pensions advisers who are involved in any aspect of the valuation process.



Previous edition ISBN: 9781845922320

Muu info

Practical Share Valuation, 6th edition guides practitioners to understand and deal with the issues and potential problems involved in valuing shares for unlisted companies, whether for commercial or fiscal reasons.
Preface v
Table of Statutes xxi
Table of Statutory Instruments xxvii
Table of EU Legislation xxix
Table of Cases xxxi
Division A Main Narrative
Chapter 1 Introduction
3(14)
1.01 Purpose of valuation
3(1)
1.02 Occasions for valuation
3(1)
1.03 Limited and unlimited companies
4(1)
1.04 Different classes of shares
5(1)
1.05 Ordinary shares
5(1)
1.06 Management shares
6(1)
1.07 Preferred ordinary shares
6(1)
1.08 Deferred ordinary shares
7(1)
1.09 Convertible securities
7(1)
1.10 Preference shares
8(1)
1.11 Participating preference shares
8(1)
1.12 No par value shares
9(1)
1.13 Appropriation of profit
9(1)
1.14 Loan capital
9(1)
1.15 Allotment of shares
10(1)
1.16 Purchase of own shares
11(1)
1.17 Basic valuation principles
11(1)
1.18 Valuation calculations
12(1)
1.19 Discount for lack of marketability
13(4)
Part 1 Case Law
Chapter 2 General principles
17(64)
2.01 Introduction
17(2)
2.02 Asset being valued - definition of a share and shareholding
19(6)
2.03 Memorandum and articles of association
25(2)
2.04 Rights under the articles - control
27(2)
2.05 Prejudicial conduct
29(19)
2.06 The date of valuation
48(4)
2.07 Just and equitable winding up
52(6)
2.08 Open market
58(3)
2.09 Special purchasers
61(5)
2.10 Prior sales
66(3)
2.11 Subsequent sales
69(2)
2.12 Non-arm's length sales - agreements with HMRC
71(1)
2.13 Valuation for foreign fiscal purposes
72(1)
2.14 A recent valuation case
73(4)
2.15 International Valuation Standards Council (IVSC)
77(1)
2.16 Royal Institution of Chartered Surveyors (RICS)
78(3)
Chapter 3 Open market value
81(40)
3.01 Hypothetical sales
81(1)
3.02 Transferee to stand in transferor's shoes - restrictions on transfer
82(1)
3.03 Shareholders' agreements
83(2)
3.04 Legal fiction
85(1)
3.05 Costs
86(1)
3.06 Sub-division
87(1)
3.07 Consolidation
88(2)
3.08 Subsequent events
90(7)
3.09 Value fixed by the articles of association
97(3)
3.10 Restrictions on transfer
100(2)
3.11 Willing seller
102(2)
3.12 Willing buyer
104(3)
3.13 Time of hypothetical sale
107(1)
3.14 Adjustments to accounts
107(4)
3.15 Sale at undervalue
111(1)
3.16 Warranties
112(1)
3.17 Sale proceeds
112(1)
3.18 Reviewing the situation
112(9)
Chapter 4 Fair value
121(42)
4.01 Valuation in accordance with an agreement
121(3)
4.02 Valuer's mistake
124(3)
4.03 Valuer's explanations
127(3)
4.04 Fair value
130(10)
4.05 Valuer's liability
140(15)
4.06 Par value
155(1)
4.07 Fraud
156(3)
4.08 Fairness opinions
159(1)
4.09 Purpose of the opinion
160(1)
4.10 Valuation basis
160(1)
4.11 Fair value for financial reporting purposes
161(2)
Chapter 5 Relevant factors
163(32)
5.01 Factors in valuation
163(1)
5.02 General economic and political situation
163(3)
5.03 State of the industry
166(3)
5.04 Profit records
169(8)
5.05 Dividend record
177(6)
5.06 Directors
183(1)
5.07 Liquidity resources
184(1)
5.08 Gearing
185(1)
5.09 Contingent liabilities and taxation provisions
185(6)
5.10 Asset base
191(1)
5.11 Customers and suppliers
192(1)
5.12 Sales negotiations
192(1)
5.13 Turnover
192(1)
5.14 Contingent liabilities and taxation provisions
193(2)
Chapter 6 The required yield
195(12)
6.01 Comparison with quoted shares
195(6)
6.02 Comparison with other investments
201(2)
6.03 Real sales
203(2)
6.04 Possible flotation
205(1)
6.05 Takeover bids
205(2)
Chapter 7 Asset-related valuations
207(36)
7.01 Break-up value
207(1)
7.02 Asset stripper's profit
208(1)
7.03 Goodwill
209(13)
7.04 Valuation on termination of an agency
222(1)
7.05 Accounting for goodwill and other intangible assets
223(1)
7.06 Asset values
223(2)
7.07 Liability for ineffective schemes
225(2)
7.08 Trade-related properties
227(1)
7.09 Goodwill in trade-related properties
228(2)
7.10 HMRC guidance
230(1)
7.11 Property companies
230(3)
7.12 Farming companies
233(1)
7.13 Works of art, etc
234(1)
7.14 Investments
235(1)
7.15 Asset-rich trading companies
236(1)
7.16 Provision for taxation
236(1)
7.17 Break-up costs
237(1)
7.18 Investment holding companies
238(5)
Chapter 8 The foreign influence
243(30)
8.01 Introduction
244(1)
8.02 American case law
244(1)
8.03 Capitalised future earnings
244(1)
8.04 Loss-making business
245(1)
8.05 Going concern basis
245(1)
8.06 Capitalisation factor
245(1)
8.07 Minority interest
246(1)
8.08 Valuation in practice
247(1)
8.09 Investment companies
248(1)
8.10 Investment company - minority interest
248(1)
8.11 Subsequent flotations
248(1)
8.12 Shares of different classes
248(2)
8.13 Personal goodwill
250(1)
8.14 Price adjustment clauses
250(1)
8.15 Discount for non-marketability
251(1)
8.16 Canadian case law - fair market value
251(1)
8.17 Fair value
251(1)
8.18 Insider knowledge
251(1)
8.19 Personal goodwill
251(1)
8.20 Special purchaser
252(1)
8.21 Chairman's casting vote
252(1)
8.22 Shareholders' agreement
252(1)
8.23 Price adjustment clauses
252(1)
8.24 Australian case law - general principles
253(1)
8.25 Hindsight
253(1)
8.26 Willing buyer and willing seller
254(1)
8.27 Personal goodwill
255(1)
8.28 New Zealand case law - market value
255(1)
8.29 Discounted cash flow
255(1)
8.30 Asset basis
255(1)
8.31 Control holdings
256(1)
8.32 Directors' fiduciary duties
256(1)
8.33 Earnings basis
257(1)
8.34 Damages and hindsight
258(1)
8.35 Management shares
258(1)
8.36 Divorce valuation
259(1)
8.37 Personal goodwill
260(1)
8.38 Valuation of unquoted shares in India
260(1)
8.39 Valuation under the Companies Act
260(1)
8.40 Valuations under the Income Tax Act 1961
261(1)
8.41 Foreign Exchange Management Act 1999
261(1)
8.42 Republic of Ireland
262(1)
8.43 The European approach
263(1)
8.44 Belgium
263(1)
8.45 Denmark
264(1)
8.46 Germany
264(1)
8.47 Italy
265(2)
8.48 The Netherlands
267(1)
8.49 Portugal
267(1)
8.50 Spain
268(1)
8.51 Norway
269(1)
8.52 Switzerland
269(1)
8.53 France
269(4)
Part 2 Statute Law
Chapter 9 Capital gains tax, corporation tax on chargeable gains, stamp duty, stamp duty and income tax
273(58)
9.01 Introduction
274(1)
9.02 Valuation provisions
274(2)
9.03 Information available
276(8)
9.04 Series of transactions
284(1)
9.05 Statement of Practice 5/89 31 March 1982, rebasing
285(2)
9.06 Extra Statutory Concession D34 (issued on 20 May 1989)
287(1)
9.07 Extra Statutory Concession D44 (issued on 16 March 1993) - 31 March 1982, rebasing
288(1)
9.08 Non-arm's length transfers
289(1)
9.09 Trust distributions
290(1)
9.10 Termination of life interest
291(1)
9.11 Bare sales
292(1)
9.12 Reorganisations
292(1)
9.13 Negligible value
293(2)
9.14 Negligible value cases
295(5)
9.15 Liquidation part disposals - Statement of Practice D3
300(1)
9.16 Connected persons
301(1)
9.17 Holdover relief
302(4)
9.18 31 March 1982 - rebasing
306(1)
9.19 Indexation
307(1)
9.20 Rebasing at 6 April 1965
307(1)
9.21 Anti-avoidance
308(1)
9.22 Taper relief
308(1)
9.23 Appeals
309(1)
9.24 Alternative Investment Market
309(1)
9.25 Lynall, transitional rules
310(1)
9.26 Deaths between 6 April 1965 and 30 March 1975
310(1)
9.27 Death after 30 March 1975
311(1)
9.28 Acquisition and disposal costs
312(1)
Stamp Duty
312(1)
9.29 General
312(1)
9.30 Special provisions
313(1)
Income Tax
314(1)
9.31 Introduction
314(1)
9.32 Employee's shares
314(1)
9.33 Employee shares under ITEPA 2003
315(1)
9.34 Restricted securities
316(2)
9.35 Acquisitions and disposals not at market value
318(1)
9.36 'Section 431' elections
319(1)
9.37 Post-acquisition benefits
320(1)
9.38 Convertible securities
320(1)
9.39 'Spin-out' companies
320(1)
9.40 Form 42
321(1)
9.41 Share option and acquisition schemes
321(1)
9.42 Reform and anti-avoidance
321(1)
9.43 Approved company share option schemes (CSOP)
322(1)
9.44 Share Incentive Plans (SIP)
323(1)
9.45 Enterprise Management Incentive Scheme (EMI)
324(2)
9.46 Unapproved schemes: options and shares acquired at less than their value
326(1)
9.47 Employee shareholder status shares
326(1)
9.48 Save as you earn share option schemes
327(1)
9.49 Trading receipts
327(2)
9.50 Pre-owned assets
329(2)
Chapter 10 Inheritance tax
331(24)
10.01 The scope of the tax
331(1)
10.02 The basic rules
332(2)
10.03 Related property
334(1)
10.04 Associated operations
334(2)
10.05 Valuation rules
336(1)
10.06 Close companies
337(3)
10.07 Control
340(1)
10.08 Payment by instalments
341(1)
10.09 Business property relief
341(3)
10.10 Agricultural property relief
344(1)
10.11 Transfers on death
345(1)
10.12 Lotting
345(1)
10.13 Surviving spouse exemption
346(1)
10.14 Effect of death
346(1)
10.15 Interests in possession and reversions
347(1)
10.16 Lifetime transfers
348(1)
10.17 Grossing up
348(1)
10.18 Relevant property settlements
348(1)
10.19 Distributions
349(1)
10.20 Rate of tax on distributions
350(1)
10.21 Ten-yearly charge ('the principal charge')
350(1)
10.22 Added property
351(1)
10.23 Charges between ten-year anniversaries
351(1)
10.24 Relevant property settlements made before 27 March 1974
352(1)
10.25 Pre-owned assets tax
352(3)
Part 3 Valuation In Practice
Chapter 11 Valuation approaches
355(16)
11.01 Introduction
355(1)
11.02 Market approach
356(1)
11.03 Income approach
356(1)
11.04 Cost approach
356(1)
11.05 Market multiples method - a market approach
356(1)
11.06 Calculating earnings
357(1)
11.07 Weighted average
357(1)
11.08 Determining an appropriate multiple
358(2)
11.09 Adjustments to quoted multiple
360(1)
11.10 Enterprise v equity value
360(1)
11.11 Discounted cash flow method - an income approach
360(1)
11.12 Forecast information and assumptions
361(1)
11.13 Enterprise v equity cash flows
361(1)
11.14 Forecast period and terminal value
362(1)
11.15 Discount rate
362(1)
11.16 Calculating the WACC
363(1)
11.17 Calculating cost of equity
363(1)
11.18 International CAPM
364(1)
11.19 Risk-free rate
364(1)
11.20 Beta
364(2)
11.21 Equity risk premium
366(1)
11.22 Country risk premium
366(1)
11.23 Small company premium
366(1)
11.24 Company-specific risk
367(1)
11.25 Cost of debt
367(1)
11.26 Performing a cross-check
368(3)
Chapter 12 Other methods of valuation
371(16)
12.01 Introduction
371(1)
12.02 Earnings yield - income approach
371(1)
12.03 Earnings per share
372(1)
12.04 Dividend yield - income approach
373(2)
12.05 Notional dividends
375(2)
12.06 Dividend cover
377(1)
12.07 Trend line analysis
378(1)
12.08 Special rights
378(1)
12.09 Preference shares
379(1)
12.10 Valuation of fixed-interest securities
379(1)
12.11 Apportionment of income (pre-March 1989)
380(1)
12.12 Definition of earnings
381(1)
12.13 Brand valuation
382(1)
12.14 Excess earnings valuation approach
382(1)
12.15 Relief from royalty valuation approach
382(1)
12.16 Market transactions
383(1)
12.17 Interbrand method
383(2)
12.18 Assessing value
385(2)
Chapter 13 The influence of the London Stock Exchange
387(18)
13.01 Introduction
388(1)
13.02 Regulation
388(1)
13.03 Recognised investment exchanges
389(2)
13.04 The history of the London Stock Exchange
391(1)
13.05 Trading mechanisms
392(1)
13.06 Leading stock markets by capitalisation
392(1)
13.07 Official List of the London Stock Exchange
393(1)
13.08 Application for listing
393(1)
13.09 Methods open to applicants without equity shares already listed
394(1)
13.10 Offer for sale or subscription
394(1)
13.11 Placing
394(1)
13.12 Intermediaries' offer
394(1)
13.13 Introduction
395(1)
13.14 Exchange market size
395(1)
13.15 Indices
395(1)
13.16 Equity derivatives
395(1)
13.17 Traded options
396(1)
13.18 Futures
397(1)
13.19 Share analysis
397(1)
13.20 Acquiring an interest
397(1)
13.21 Disclosure of information
398(1)
13.22 Asset values
398(1)
13.23 Market movements generally
399(1)
13.24 UK market
399(1)
13.25 Futures market
400(1)
13.26 Branded products
401(1)
13.27 Patent products
401(1)
13.28 Contract awards or cancellations
401(1)
13.29 Company announcements
401(1)
13.30 Research, downgrades or upgrades
402(1)
13.31 Takeover bids
402(1)
13.32 Stake building
402(1)
13.33 Large or significant shareholdings
402(1)
13.34 Rights issues
403(1)
13.35 Press comment
403(1)
13.36 The effects of the economic cycle
403(1)
13.37 Overseas earnings
403(1)
13.38 Quality of earnings
404(1)
13.39 Summary
404(1)
Chapter 14 The real market for shares and valuation for specific purposes
405(14)
14.01 Finding a buyer
405(1)
14.02 Private Equity and Venture capital
406(2)
14.03 European regulated markets
408(1)
14.04 Alternative Investment Market
409(1)
14.05 Full listing
410(1)
14.06 Enterprise Investment Scheme
411(1)
14.07 Valuation for specific purposes
411(1)
14.08 Management buy-outs / buy-ins
411(1)
14.09 De-mergers
412(1)
14.10 Receiverships and liquidations
413(1)
14.11 Estate planning
413(1)
14.12 Company buying own shares
413(2)
14.13 Administration
415(1)
14.14 Take-overs
415(1)
14.15 Nationalisation
416(1)
14.16 Non-cash share issues: CA 2006, ss 593-597
417(2)
Chapter 15 Published data
419(10)
Share Indices
419(1)
15.01 The importance of published information
419(1)
15.02 The FT 30 Index
420(1)
15.03 Financial Times Stock Exchange Indices (FTSE)
420(1)
15.04 Financial Times Stock Exchange (FTSE) Actuaries Share Indices
421(1)
15.05 Basis of compilation of the FTSE Indices
421(1)
Share Prices
421(1)
15.06 Financial Times London Share Service
421(1)
15.07 Stock Exchange Daily Official List (SEDOL)
422(1)
15.08 BDO LLP Private Company Price Index/Private Equity Price Index (PCPI/PEPI)
423(1)
Tracing Comparable Companies
424(1)
15.09 A standard industrial classification
424(1)
15.10 Trade directories and magazines
424(1)
15.11 Trade journals
424(1)
15.12 Trade associations
425(1)
15.13 Special reports
425(1)
15.14 Company sources
425(1)
15.15 Other online databases
425(1)
15.16 Cuttings services
426(1)
15.17 Stock Exchange Daily Official List and Financial Times London Share Service
426(1)
15.18 Industry ratios
426(1)
15.19 London Business School Risk Measurement Service
426(1)
15.20 Thomson Reuters
426(1)
15.21 Company accounts
427(1)
15.22 Accounts of unquoted companies
427(2)
Chapter 16 Unpublished information and company records
429(18)
16.01 Company data
430(1)
16.02 Memorandum and articles of association and shareholders' agreements
430(1)
16.03 Annual accounts
430(1)
16.04 Interim accounts for shareholders
431(1)
16.05 Budgets
432(1)
16.06 Corporation tax return
432(1)
16.07 Other tax returns
432(1)
16.08 Management accounts
433(1)
16.09 Stock lists
433(1)
16.10 Aged list of debtors
433(1)
16.11 Aged list of creditors
434(1)
16.12 Property register
434(1)
16.13 Plant register - including fixed plant in buildings
434(1)
16.14 Dividend history
434(1)
16.15 Directors' remuneration
435(1)
16.16 Management personnel
435(1)
16.17 Employees
436(1)
16.18 Pension scheme
436(1)
16.19 Order backlog
436(1)
16.20 List of customers
437(1)
16.21 List of suppliers
437(1)
16.22 Insurance records
437(1)
16.23 Professional valuations
438(1)
16.24 Contractual obligations
438(1)
16.25 Contingent liabilities
439(1)
16.26 Contingent assets
439(1)
16.27 Brochures and catalogues
440(1)
16.28 Trade associations
440(1)
16.29 Company history
440(1)
16.30 Company visit
441(1)
16.31 Auditors
441(1)
16.32 Solicitors
441(1)
16.33 Bankers
441(1)
16.34 Third parties
442(1)
16.35 Accounting ratios
442(1)
16.36 Percentages
442(1)
16.37 The credit ratio
442(1)
16.38 The debtor ratio
443(1)
16.39 Rate of stock turnover
443(1)
16.40 Working capital
443(1)
16.41 The return on capital employed (ROCS)
443(1)
16.42 Current ratio
444(1)
16.43 Liquid asset ratio (acid test ratio)
444(1)
16.44 Cash ratio
444(1)
16.45 Dividend cover and fixed interest charges cover
444(1)
16.46 Earnings per share
445(2)
Chapter 17 Valuation of intellectual property and other intangibles
447(36)
17.01 Introduction
447(2)
17.02 Open market value
449(1)
17.03 Evidence of open market value
450(1)
17.04 Recent case law - tax avoidance schemes
451(4)
17.05 Trademarks
455(6)
17.06 Transfer pricing
461(3)
17.07 OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations
464(1)
17.08 Transaction based methods
464(1)
17.09 Comparable uncontrolled prices (CUP)
464(1)
17.10 Resale price
465(1)
17.11 Cost plus
466(1)
17.12 Profit methods
466(1)
17.13 Arm's length range
467(1)
17.14 Intangible rights
468(1)
17.15 Royalty comparisons in practice
468(2)
17.16 HMRC transfer pricing practice
470(4)
17.17 EC report on intellectual property valuation
474(5)
17.18 OECD/G20 guidance on transfer pricing aspects of intangibles
479(2)
17.19 Image rights
481(2)
Chapter 18 HMRC Shares and Assets Valuation Section
483(16)
18.01 Background
483(1)
18.02 Submitting a valuation to HMRC
484(1)
18.03 The Shares and Assets Valuation Manual (SVM)
484(1)
18.04 Case law assumptions
485(1)
18.05 Information to be submitted
485(1)
18.06 Small minority holdings
486(1)
18.07 Influential minority holdings
486(1)
18.08 50% holding
486(1)
18.09 Majority holdings
487(2)
18.10 Break-up value
489(1)
18.11 Hamilton Baynes' basis
489(1)
18.12 Adjustments to accounts
490(1)
18.13 Imminent disposal
490(1)
18.14 31 March 1982
490(2)
18.15 6 April 1965
492(1)
18.16 Comparison with quoted companies
492(1)
18.17 Investment companies
492(1)
18.18 Other classes of company
493(1)
18.19 Negotiations with Shares and Assets Valuation
494(1)
18.20 Appeals
495(1)
18.21 International Valuation Standards Council
496(1)
18.22 Market value v fair value
496(1)
18.23 IVSC publications
497(2)
Chapter 19 Valuation reports
499(10)
19.01 Introduction
499(1)
19.02 Addressee
500(1)
19.03 Identification
500(1)
19.04 Valuation date
501(1)
19.05 Basis of valuation
501(1)
19.06 Capital structure
501(1)
19.07 Definition of rights
502(1)
19.08 Sources of information
502(1)
19.09 Valuation approach
502(1)
19.10 Valuation conclusion
502(1)
19.11 The reasoning behind the valuation
502(1)
19.12 General economic conditions
502(1)
19.13 Outlook for the industry
503(1)
19.14 Company history
503(1)
19.15 Management
504(1)
19.16 Workforce
504(1)
Financial Information
504(1)
19.17 Annual accounts
504(1)
19.18 Assets and liabilities
505(1)
19.19 Properties
505(1)
19.20 Profit forecasts
506(1)
19.21 Capital commitments
506(1)
19.22 Order book
506(1)
19.23 Insurance
506(1)
19.24 Intangible assets
506(1)
19.25 Contingent liabilities
506(1)
19.26 Accounting ratios
506(1)
19.27 Comparable companies
507(1)
19.28 Valuation
507(2)
Chapter 20 Fair value for financial reporting purposes
509(20)
20.01 Meaning of fair value
509(1)
20.02 Overview of requirements of IFRS 13
510(3)
20.03 Overview of when IFRS requires fair value measurements
513(6)
20.04 UK GAAP accounting and fair value measurement
519(6)
20.05 Fair value measurement and the FRSSE 2015
525(4)
Chapter 21 Accounting for goodwill and intangible assets arising on an acquisition
529(20)
21.01 Introduction
529(1)
21.02 Accounting for business combinations under IFRS
529(5)
21.03 Impairment testing of goodwill and intangible assets under IFRS
534(6)
21.04 Accounting for business combinations under UK GAAP
540(1)
21.05 Impairment testing of goodwill and intangible assets under UK GAAP
541(1)
21.06 Intangible asset valuation guidance issued by the International Valuation Standards Council
542(1)
21.07 Market, income and cost approaches to intangible asset valuation
543(1)
21.08 Market approach to intangible asset valuation
543(1)
21.09 Income approach to intangible asset valuation
544(4)
21.10 Cost approach to intangible asset valuation
548(1)
Chapter 22 Accounting for equity awards to employees
549(14)
22.01 Introduction
549(1)
22.02 Accounting for employee equity awards under IFRS
550(5)
22.03 Using option-pricing models
555(5)
22.04 Accounting for employee equity awards under UK GAAP, FRS 102
560(2)
22.05 Accounting for employee equity awards under UK GAAP, FRSSE 2015
562(1)
Chapter 23 Valuation in Matrimonial Proceedings
563
23.01 Valuation principles
563(2)
23.02 Fairness
565(1)
23.03 Valuation in the context of the overall settlement
566(3)
23.04 Shares held in trust
569(1)
23.05 Quoted shares and options
570(2)
23.06 Taxation: the powers of the court
572(1)
23.07 Valuation of a start-up companies
573(1)
23.08 Use of the Private Company Price Index
573(2)
23.09 Shareholders' agreements
575(1)
23.10 Single joint expert
575(1)
23.11 Acting as an Expert Witness
576(7)
23.12 Court's resolution of differences between experts
583(3)
23.13 Basis of valuation
586(2)
23.14 Expenditure on experts
588(1)
22.15 Date of valuation and other practical issues
589
Division B Valuation Examples
Example 1 Mock valuation report in Re Lynall, Lynall v IRC
595(8)
Example 2 Mock valuation report in Re Holt
603(12)
Example 3 Sparkco Ltd - fair value
615(6)
Example 4 Diplodocus Ltd - valuation of deferred shares at 13 April 2014
621(3)
Example 5 Salamander Marketing Consultants Ltd - valuation of shares for tax purposes
624(11)
Example 6 Motorco - valuation of goodwill on incorporation
635(3)
Example 7 Logo Properties Limited - valuation of shares in a property company for IHT purposes
638(3)
Example 8 Lavender Systems Limited - EMI valuation
641(6)
Division C Appendices
Appendix A Financial Times/Stock Exchange Actuaries Share Indices
647(17)
Appendix B Financial Times Actuaries Equity Indices - at 31 March 1982
664(2)
Appendix C Financial Times Actuaries Share Indices and their constituents
666(35)
Appendix D Relevant estate duty and other obsolete legislation
701(6)
Appendix E RIGS Valuations Standards: VPGA 3, VPGA 4 and VPGA 6 (January 2014)
707(28)
Appendix F International Private Equity and Venture Capital (IPEV) Valuation Guidelines
Chapter 3
735(3)
Appendix G Civil Procedure Rules Part 35 - Experts and Assessors
738(21)
Appendix H Parry's Valuation Tables - Present value of one pound
759(19)
Appendix I Parry's Valuation Tables - Years' purchase or present value of one pound
778(12)
Appendix J Useful websites
790(3)
Index 793
Nigel Eastaway OBE is a Tax Partner at MacIntyre Hudson. He is an expert on share valuations, forensic matters and the taxation of intellectual property and has acted as an expert witness on a number of well known cases.

Diane Elliott is a director in the share and business valuations team at BDO.