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ICAEW event

Valuation Conference 2023

Learn about current developments in business valuation.

Watch on demand


Sessions will cover a range of practical and technical issues to keep you at the top of your field, enabling you to provide your clients with solutions to the challenges in this ever-changing sector.

Economic insight

Learn about both UK and global economic trends in one of the most popular sessions at the conference.


HMRC update

Hear the views of Shares and Assets Valuation on three very different fiscal cases.


Intellectual property

HMRC share their view on differences in valuation techniques when applying OECD pricing rules.



Learn about the current thinking on premiums for control, discounts for lack of control and discounts for lack of marketability.



The latest on the WEG exposure draft and what it says about growth shares.


Renewable energy

The renewable energy sector is an engine of growth for the UK economy. Learn how such assets are valued from specialists in this area.


This year's programme provides you with the option of attending either the full day, morning or afternoon session.

Please note that the programme is subject to change.

General valuation sessions

Chair's opening remarks
Growth shares - is there value above the current value?
In this session, William Franklin, Partner at Pett, Franklin & Co. LLP will cover the value of growth shares, discussing what the WEG exposure draft says about growth shares, and CVM, PWERM and OPM – and other alternatives. He will also look at the feedback to the ED, including valuation methods being used in practice.
Discounts and premia
Join David Mitchell, Managing Director – Valuations at Interpath Advisory to learn how discounts applicable to holdings in small private companies can be computed. Control premiums will be reviewed, including arguments for (or against), when using the market approach and comparable company method.
Small business valuations
Join Tariq Javaid, Partner, Corporate Finance, at Azets to answer questions around small business valuations: Is valuing small businesses all about multiples? How should we distinguish between business value and owner/founder value? How do entrepreneurs think about value?
HMRC update
Our speakers Steve Thomas, Assistant Director – Shares and Assets Valuation, Scott Parker, Delegated Competent Authority - Valuation & International Tax, and Becky Grzesiczek, Intellectual Property Valuer, from HMRC will explore the valuation lessons arising from three very different cases, Morgan Lloyd, Readybuy plc and Denning. This HMRC session will also include the valuation of intangible assets in international transactions.
Economic update
During this session, Jeavon Lolay, Head of Economics & Market Insight at Lloyds Bank will discuss the outlook for the economy and expectations for growth, inflation and interest rates, as well as the potential risks valuers should be factoring into their valuation conclusions.

Specialist valuation sessions

Economic update
During this session, Jeavon Lolay, Head of Economics & Market Insight at Lloyds Bank will discuss the outlook for the economy and expectations for growth, inflation and interest rates, as well as the potential risks valuers should be factoring into their valuation conclusions.
Valuing renewables
The renewable energy sector is an engine of growth for the UK economy. Tomas Freyman, UK Head of Valuations & Modelling, Grant Thornton UK LLP will discuss key considerations when valuing a renewable energy project.
Updated IPEV guidelines - practical implications
Stay updated with the International Private Equity and Venture Capital Valuation (IPEV) guidelines. Katrina Hallpike, Valuations Partner at PwC, will cover economic rights, valuations of destressed businesses, points of difference analysis and more.
Getting terminal value right
Join this session to hear from Andrew Strickland, Consultant at Scrutton Bland as he discusses what current academic research says about the contribution of inflation and growth in GDP to terminal g for a mature business, and the messages from empirical data.
Closing Comments

Our Speakers

Image of William Franklin
William Franklin Founder, Pett, Franklin & Co. LLP

William is a Chartered Accountant and a leading share valuer and adviser on accounting for employee share schemes. He is an experienced designer of employee share schemes and conversions to EOT employee ownership. With David Pett, he founded the specialist employee share scheme law firm Pett, Franklin & Co LLP and chairs the Worked Example Group (WEG) which works with HMRC Shares Valuation to develop new valuation worked examples for the HMRC Share Valuation Manual.

Image of Tomas Freyman
Tomas Freyman UK Head of Valuations & Modelling, Grant Thornton UK LLP

Tomas Freyman is a partner at Grant Thornton UK LLP. He leads the UK Valuations & Modelling team. He has particular expertise across Renewable Energy where he and the team have valued in excess of 10 gigawatts of renewable energy generating capacity for dozens of corporates and infrastructure funds investing in wind, solar, energy storage, energy efficiency and biomass.

Becky Grzesiczek Intellectual Property Valuer, HMRC

Becky started working for HMRC in 2015, in their Fraud Investigation Service team, shortly before joining HMRC’s graduate programme. After spending 3 years as a tax investigator, she started working in the Shares and Assets Valuation Team. Her work mainly involves the valuation of intellectual property assets owned by some of the largest global companies. She has also been involved in discussions with other tax authorities to resolve double taxation issues as part of the MAP process.

Image of Katrina Hallpike
Katrina Hallpike Valuations Partner, PwC

Katrina specialises in the valuation of early-stage businesses and portfolios. She supports clients buyside and sell-side on transactions as well as performing valuations for financial reporting, tax, restructuring or disputes. Kat also provides advice on valuation process and governance to clients, particularly in the asset management sector. She has experience specialising in financial services and technology valuations.

Tariq Javaid Partner, Azets

Tariq is Corporate Finance Partner at Azets and he focuses on Mergers and Acquisitions within the owner managed space. Having previously spent many years in industry, he can relate to and has first hand experience of the challenges facing entrepreneurs. His specialisms include helping clients grow their business through acquisitions, helping management teams buy the business they currently work in, as well as succession planning and executing exit plans for successful entrepreneurs. He has also implemented a number of Employee Ownership schemes for his clients.

Headshot of Jeavon Lolay
Jeavon Lolay Head of Economics & Market Insight, Lloyds Bank

Jeavon leads the Economics & Market Insight team, primarily focusing on the UK economy and global developments that impact major financial markets. His team communicates the views of Lloyds Bank externally, both through regular written commentary and formal presentations. Jeavon regularly presents at events across the UK and internationally.

Image of David Mitchell
David Mitchell Managing Director - Valuations, Interpath Advisory

David was Head of UK valuations at BDO LLP before joining Interpath Advisory. He has extensive experience in contentious and non-contentious matters using different valuation methodologies. David has been appointed an expert over 40 times, regarding valuation and quantum of damages or loss of profits from breach of warranty or contract claims, post-acquisition and cross border disputes and infringement of intellectual property rights. Including litigation in UK, DIFC, Canadian, Jersey, BVI and Cayman courts.

Scott Parker Delegated Competent Authority - Valuation & International Tax, HMRC

Scott specialises in Transfer Pricing Valuations, often centring around the cross-border transfer of intangibles. He is accredited with full chartered membership of the Royal Institution of Chartered Surveyors (RICs) – Business Valuation Faculty. He has successfully represented HMRC on the second ever EU Arbitration Commission Panel Case, where a big Transfer Pricing, Mutual Agreement Procedure Case dispute was resolved by an Independent Panel. He currently advises HMRC’s Large Business Sector on all things intangibles, specialising in valuation for Corporation Tax and Transfer Pricing Purposes.

Andrew Scrutton Bland
Andrew Strickland Consultant, Scrutton Bland

Andrew is a Chartered Accountant with many years’ experience of corporate transactions with specialism as a business valuer. He is also a main contributor to ICAEW’s quarterly newsletter and presents regularly to service users. Andrew is a consultant to Scrutton Bland where he indulges in work related to business valuation, litigation support and corporate finance transactions, acting for both buyers and sellers, advising value, on the main terms and on the tax implications of transactions.

Steve Thomas
Steve Thomas Assistant Director, HMRC

Having entered the Inland Revenue in 1985, Steve spent seven years in HM Inspector of Taxes before joining Shares and Assets Valuation in 1992. He now heads the office’s Litigation Team. Steve was one of the first Shares and Assets Valuation valuers to become a full Member of the Royal Institution of Chartered Surveyors. He is currently leading the office’s position in several contentious policy areas and is a regular speaker on valuation issues outside HMRC.

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Very knowledgeable speakers, experts in their fields and a course covering all sorts of areas useful to a range of valuers.

Previous attendee ICAEW's Valuation Conference 2022

Very useful, something for everyone in the valuations community, including seasoned practitioners.

Previous attendee ICAEW's Valuation Conference 2022

This event was an excellent opportunity to update valuation knowledge with current and best practice.

Previous attendee ICAEW's Valuation Conference 2022

Expert insight from specialists across a broad spectrum of valuation topics.

Previous attendee ICAEW's Valuation Conference 2022

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