Practical Share Valuation: Sixth Edition

ISBN-13: 9781780435510 / Angielski / Miękka / 2014 / 872 str.

Nigel Eastaway; Diane Elliot

Opis

This sixth edition will guide practitioners to understand and deal with the issues and potential problems involved in valuing shares for unlisted companies in the UK, whether for commercial or fiscal reasons. The in-depth user-friendly book outlines the very latest accountancy procedures for assessing the worth of a company's shares. The key UK tax considerations, practical suggestions and tips, accountancy best practice guidelines - everything one needs on this key subject is available from this indispensable resource. Updated since the last edition (published in 2009), the book includes a large number of cases which have impacted on subsequent share valuation practice. Additionally, the following UK legislations are included: Finance Act 2014 * Companies Acts 1985 and 2006 * Charities Act 2006 * Income Tax Act 2007 * Income and Corporation Taxes Act 1988 * Income Tax (Earnings and Pensions) Act 2003 * Taxes Management Act 1970 * Taxation of Chargeable Gains Act 1992. Contents also include: *** PART 1 - CASE LAW: general principles; open market value; fair value; relevant factors; the required yield; asset related valuations; the foreign influence *** PART 2 - STATUTE LAW; capital gains tax, corporation tax on chargeable gains, stamp duty, stamp duty land tax and income tax; inheritance tax *** PART 3 - VALUATION IN PRACTICE: methods of analysis; the influence of the stock exchange; discounted cash flow and other methods of valuation; the real market for shares and valuation for specific purposes; published data; unpublished information and company records; valuation of intellectual property and other intangibles; HMRC shares and assets valuation section; valuation reports; share and share option valuations for financial reporting purposes; valuation in matrimonial proceedings.

Spis treści

Contents: DIVISION A MAIN NARRATIVE; Chapter 1 Introduction; Chapter 2 General principles; Chapter 3 Open market value; Chapter 4 Fair value; Chapter 5 Relevant factors; Chapter 6 The required yield; Chapter 7 Asset-related valuations; Chapter 8 The foreign influence; Chapter 9 Capital gains tax, corporation tax on chargeable gains, stamp duty, stamp duty and income tax; Chapter 10 Inheritance tax; Chapter 11 Valuation approaches; Chapter 12 Other methods of valuation; Chapter 13 The influence of the London Stock Exchange; Chapter 14 The real market for shares and valuation for specific purposes; Chapter 15 Published data; Chapter 16 Unpublished information and company records; Chapter 17 Valuation of intellectual property and other intangibles; Chapter 18 HMRC Shares and Assets Valuation Section; Chapter 19 Valuation reports; Chapter 20 Fair value for financial reporting purposes; Chapter 21 Accounting for goodwill and intangible assets arising on an acquisition; Chapter 22 Accounting for equity awards to employees; Chapter 23 Valuation in Matrimonial Proceedings. DIVISION B VALUATION EXAMPLES: Example 1 Mock valuation report in Re Lynall, Lynall v IRC; Example 2 Mock valuation report in Re Holt; Example 3 Sparkco Ltd – fair value; Example 4 Diplodocus Ltd – valuation of deferred shares at 13 April 2014; Example 5 Salamander Marketing Consultants Ltd – valuation of shares for tax purposes; Example 6 Motorco – valuation of goodwill on incorporation; Example 7 Logo Properties Limited – valuation of shares in a property company for IHT purposes; Example 8 Lavender Systems Limited – EMI valuation. DIVISION C APPENDICES: Appendix A Financial Times/Stock Exchange Actuaries Share Indices; Appendix B Financial Times Actuaries Equity Indices – at 31 March 1982; Appendix C Financial Times Actuaries Share Indices and their constituents; Appendix D Relevant estate duty and other obsolete legislation; Appendix E RICS Valuations Standards: VPGA 3, VPGA 4 and VPGA 6 (January 2014); Appendix F International Private Equity and Venture Capital (IPEV) Valuation Guidelines – Chapter 3; Appendix G Civil Procedure Rules Part 35 – Experts and Assessors; Appendix H Parry’s Valuation Tables – Present value of one pound; Appendix I Parry’s Valuation Tables – Years’ purchase or present value of one pound; Appendix J Useful websites.