To ask the Chancellor of the Exchequer what key performance indicators the Valuation Office Agency has in relation to improving the cost-yield ratio for capital gains tax. (284922)

The Valuation Office Agency does not have a key performance indicator to improve the cost-yield ratio for capital gains tax but one of its targets is to improve value for money on capital gains tax work for HMRC by 5 per cent. This is measured by comparing the Agency’s costs with the estimated tax achieved.

To ask the Chancellor of the Exchequer what steps the Valuation Office Agency is taking to increase the cost-yield ratio from inheritance tax. (284924)

The Valuation Office Agency considers valuations submitted by taxpayers for inheritance tax purposes in accordance with long standing legislative rules and procedures. The Agency is reducing the cost of the resources that it uses on these cases, as measured by the cost yield ratio. The aim is to spend less time on those valuations that do not require any adjustment and to focus on those that do, so that the amount of tax properly due is paid.