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<p>The market value of a property can be relevant to tax liability. HM Revenue and
Customs (HMRC) will target such cases for enquiry to ensure that tax is not understated.
HMRC works with expert valuers in the Valuation Office Agency where valuation is disputed.</p><p>
</p><p> </p><p> </p><p>In most cases, undervaluation of a property will be a mistake
by the taxpayer or, in some cases, evasion. HMRC already has the powers needed to
tackle such misdeclarations. At the July Budget, this Government announced additional
investment in HMRC to tackle non-compliance.</p><p> </p><p> </p><p> </p>
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