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Valuation United Kingdom

Proskauer Rose LLP

UK Tax Round Up - June 2025

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Welcome to the June edition of our UK Tax Round Up, which discusses HMRC’s response to its consultation on the new UK carried interest regime to be introduced next year and interesting cases on the main purpose test in the...more

Orrick, Herrington & Sutcliffe LLP

UK Founder Series: When EMI and CSOPs Don’t Fit: Unlocking the Power of Growth Shares and JSOPs

Orrick's Founder Series offers monthly top tips for UK startups on key considerations at each stage of their lifecycle, from incorporating a company through to possible exit strategies. The Series is written by members of our...more

K&L Gates LLP

Europe: UK’s FCA Intensifies Scrutiny on Private Markets Valuations

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The UK’s Financial Conduct Authority has published the findings of its multi-firm review of valuation processes for private market assets. This review follows the highlighting of vulnerabilities in private markets stemming,...more

Paul Hastings LLP

UK FCA’s Review of Valuation Processes for Private Market Assets — Key Findings and Implications for Private Equity and Private...

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On March 5, 2025, the U.K. Financial Conduct Authority (FCA) released its much-anticipated findings from a multifirm review examining valuation processes for private market assets. This review, launched amid growing concerns...more

A&O Shearman

UK FCA highlights areas for improvement in private market valuation processes

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The UK Financial Conduct Authority (FCA) has published the findings of the multi-firm assessment of valuation practices and governance for valuing private equity, venture capital, private debt and infrastructure assets. The...more

Skadden, Arps, Slate, Meagher & Flom LLP

FCA Findings on Private Market Valuations Stress Risk of Conflicts and Need for Independence

On 5 March 2025, the FCA published its findings from its multi-firm assessment of governance and valuation practices within the private market sector (Review) along with a press release. The Review focused on firms operating...more

Hogan Lovells

Increased UK regulatory scrutiny: FCA taking a closer look at conflicts and valuations, including on GP leds

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The FCA has published a report on private market valuation practices, after recently indicating that this area will be one of its supervisory priorities this year. Managers and advisers involved with private assets (in...more

Cadwalader, Wickersham & Taft LLP

Amid Chaos, Regulatory Change Continues Apace, March 2025 - The UK’s FCA Reports on Findings From Review of Valuations for Private...

The UK’s Financial Conduct Authority ("FCA") has published findings from its multi-firm review of valuation processes for private market assets.  Given the UK’s status as the largest centre for private market asset...more

BCLP

Business Rates: Decisions About Material Changes of Circumstances “in the Locality”

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The Valuation Tribunal recently considered the impact of the Rushden Lakes Shopping Centre in Northamptonshire on rental and hence rateable values in neighbouring towns. The opening of the Centre had adversely impacted...more

BCLP

Can You Smash & Grab and Argue About True Value in the Same Adjudication?

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In the case of Bellway Homes Limited v Surgo Construction [2024] EWHC 10 TCC, the court addressed whether it is possible to start a smash & grab adjudication but also a claim based on true value adjudication as a secondary...more

Cadwalader, Wickersham & Taft LLP

High Court Ruled That Lender Suffered No Loss Despite Negligent Valuation of Security

On 27 September 2023, the British High Court ruled that the claimant relying on the defendant’s report suffered no actionable loss, despite the defendant’s admission of negligence. ...more

Conyers

Trina Solar: A Warning Regarding Reliance on Merger Price and Deficient Disclosure in s238 Proceedings

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The successful appeal by dissenting shareholders in Trina Solar provides key insights into the importance of establishing a robust merger process, the company’s burden to make all relevant information available in appraisal...more

Latham & Watkins LLP

Innovation Required to Address Three Emerging GP Led Secondary Transaction Themes

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GP-led secondary deals — where a sponsor initiates the sale of portfolio companies from a fund it manages to a new fund it also manages — were a prominent feature of the private equity landscape in 2022, encouraged by...more

BCLP

Enforcing share security: appropriation and “commercially reasonable” valuations

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The recent case of ABT Auto Investments Ltd v Aapico Investment Pte Limited and others [2022] EWHC 2839 (Comm) explores a lender’s rights to enforce share security by appropriating shares secured in its favour. The statutory...more

BCLP

Rating case note - the socio-economic value of museums

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Question - I am the FD of a public sector body. We run a museum which does not charge for admission and operates at a deficit, however its contribution to local culture and ability to attract visitors to the area make it...more

Proskauer Rose LLP

UK Tax Round Up - July 2021

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In Haworth v HMRC the Supreme Court (SC) upheld the Court of Appeal’s (CA’s) decision to quash a follower notice (FN) and accelerated payment notice (APN) issued to the taxpayer, Mr Haworth. An FN can be issued by HMRC where...more

Morrison & Foerster LLP

International Tax Disputes Insights Newsletter (Spring 2021)

Our inaugural issue focuses on a truly transnational and important rule of law: the attorney-client privilege and related protections against disclosure. While this is a topic common to all areas of law, the tax arena at...more

White & Case LLP

CIGA: Super-scheme to the rescue? The UK’s new Corporate Insolvency and Governance Act introduces a restructuring plan procedure...

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The new UK Corporate Insolvency and Governance Act (CIGA), which took effect in June 2020, ushers in permanent changes to the English insolvency and restructuring landscape as well as temporary, and largely retrospective,...more

Cohen & Gresser LLP

The UK Supreme Court Seeks to Clarify the Reflective Loss Principle (or Whose Claim is it Anyway?)

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What is the reflective loss principle? • The English law principle of reflective loss traditionally held that when a company suffered loss as a consequence of the actions of a third party, the loss suffered by its...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2020 Insights

Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more

Hogan Lovells

Approaches to valuing growth shares

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We recently had the opportunity to hear HMRC's latest views on valuing growth shares for UK tax purposes. We consider below the importance of share valuation in general and provide an update on HMRC's approach to valuing...more

Hogan Lovells

Japanese knotweed: have your say

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Following the Court of Appeal decision in Network Rail Infrastructure Limited v Williams and Waistell, Parliament is digging deeper to untangle the effect of Japanese knotweed on the built environment. ...more

A&O Shearman

Bank of England Guidance to Firms on Valuation Capabilities to Support Resolvability

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The Bank of England has published the "Dear CFO" letter sent by its Resolution Directorate to the Chief Financial Officers of relevant entities in financial groups within the remit of the BoE's principles-based "Statement of...more

A&O Shearman

Bank of England Confirms Approach to Valuation Capabilities of Firms to Support Resolvability

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Following its consultation in August 2017, which closed in November 2017, the Bank of England has published its Statement of Policy on its expectations on the minimum standard of valuation capabilities that firms should have...more

A&O Shearman

Bank of England Consults on Policy Proposals for the Valuation Capabilities of Firms to Support Resolvability

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The Bank of England has published a consultation setting out policy proposals on the minimum standard of valuation capabilities that firms should have in place to ensure that their valuations are sufficiently timely and...more

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