Jurisdiction(s):
United Kingdom

Key definition

Valuation definition

What does Valuation mean? Valuation is the assessment, at a given point in time, of the sum due to a contractor for construction work performed and related entitlements under the contract. It is a descriptive term used across construction law and standard forms; it is not defined by statute. The governing payment legislation (England & Wales and Scotland: Housing Grants, Construction and Regeneration Act 1996, as amended; Northern Ireland: Construction Contracts (NI) Order 1997; Ireland: Construction Contracts Act 2013) regulates payment cycles and notices, but the contract sets the valuation rules. Typically, valuation covers measured work against the bill of quantities or schedule of rates,...

Valuing assets in financial remedy proceedings (England and Wales): Form E, property and business valuations, pensions, insurance, chattels and other assets, valuation timing, and single joint expert evidence

Published by a LexisNexis Family expert

Practice notes

This Practice Note explains when asset valuations are appropriate in financial remedy proceedings. It gives guidance on completing a financial statement in Form E and on valuing property, business assets, pensions, insurance policies and chattels. It also sets out procedural points, including expert evidence.

Rationale for valuation

In any financial remedy application, values for all relevant assets and liabilities must be obtained. Failure to do so may amount to professional negligence. Only then can the parties and the court assess the overall financial picture. Form E asks for valuations to be supplied, for example:

a copy of any real property valuation obtained within the past six months;
a recent mortgage statement confirming the balance outstanding on each mortgage;
statements for the last 12 months for every bank, building society and National Savings account—the requirements cover all accounts, whether in credit or overdrawn, held solely or jointly with another person, and those held at any time within the last 12 months

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David Salter

David Salter has enjoyed a varied career in family law with over 45 years’ experience. He served as National Head of Family Law at Addleshaw Goddard and, subsequently, as Joint National Head of Family Law at Mills & Reeve, retiring in 2018.From 1997-1999, David was Chairman of Resolution, also acting as the first Chairman of Resolution’s Accreditation Committee. He subsequently became President of the International Academy of Family Lawyers from 2010 to 2012, having previously served as the Academy's European Chapter President.He has sat in various part-time judicial posts since 1985 sitting regularly as a deputy High Court judge and Recorder in the Family Court until March 2022. He now conducts private financial dispute resolution appointments.David was one of the original members of the Family Procedure Rules Committee which framed the 2010 Rules, serving a ten-year term from 2004 to 2014.He is a...

Web page updated on 21/05/2026

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