The Touchstone valuation team delivers independent valuations for a variety of purposes, sectors, deal stages, and client types.

Valuations can be some of the most subjective elements of a financial statement. Our extensive experience both as valuers and auditors allows us to prepare robust valuations which stand up to auditor scrutiny.

Our financial reporting valuation services include:

  • Deferred consideration and earn-outs — Valuations required as part of a business combination or as financial instruments.

  • Business combinations and purchase price allocation — Allocation of value to intangible assets in accordance with IFRS 3 or UK GAAP.

  • Share-based payments — Measurement of share-based payments in accordance with IFRS 2 or UK GAAP, in particular the application of option pricing methodologies such as Black-Scholes and Monte Carlo simulation.

  • Impairment testing — Annual testing of goodwill and other intangibles under IAS 36 or UK GAAP.

  • Lease accounting — Measurement of operating leases under IFRS 16.

  • Financial instruments — Measurement of loans, convertible instruments and other complex instruments under IFRS 9 or UK GAAP.

  • Portfolio valuations — Independent and objective valuations of debt and equity investments across a multitude of sectors and asset classes.

Valuations are under increasing scrutiny from tax authorities and as part of exit diligence.

Our tax valuation services include:

  • Employee Ownership Trust — Expert valuations advice during sale of a business to an EOT.

  • Employee share schemes — Valuations of ordinary and growth shares for management incentive plans. We can support with the design and implementation of schemes, as well as ongoing valuations for joiner and leaver events.

  • Employee option schemes — Valuations for tax-advantaged employee share option schemes such as the Enterprise Management Incentive (EMI) schemes, Company Share Option Plans (CSOP), and Share Incentive Plans (SIPs).

  • Carried interest — Valuations of carried interest schemes for fund managers.

  • International transactions — Valuation of shares and other business assets in relation to corporate restructuring and re-organisations.

  • Valuation reviews — Vendor assist support and buy-side due diligence reviews of third-party valuations.

  • Inheritance Tax — IHT valuations for succession planning and probate purposes.

  • Capital Gains Tax — CGT valuations in relation to corporate reorganisations and transfers between related parties.

  • Negotiating with HMRC — By leveraging our extensive experience in practice and at HMRC's shares and assets valuation division, we act as representatives for taxpayers in negotiating values for business assets with the tax authorities.

We provide independent valuation opinions for a broad range of regulatory, statutory and contractual purposes, including:

  • Fairness opinions — We offer independent fairness opinions to help our clients in situations where their interest lies in authenticating the validity and accuracy of the valuation process.

  • Statutory opinions — Including S593/596 valuations for transactions involving non-cash consideration.

We provide valuation advice to support your commercial decision making, including:

  • Pricing analysis — Analysis to support your decision making around buying or selling assets.

  • Valuation support for debt and equity funding — Independent valuations to provide support to lenders, investors or commercial decision making.

Our clients are as diverse as we are, ranging from family-owned businesses and high-growth start-ups to some of the largest public and private equity-backed businesses.

SureCloud Logo


  • The Touchstone team have provided expert valuation assistance to Everlight Radiology, including complex business acquisition, business restructuring and tax valuation matters. The team have struck the optimal balance of being willing, commercially pragmatic and engaging across a range of stakeholders while delivering their expert technical valuation specialist support to Everlight. The team have been able to cut through technical complexity to provide accurate and commercially robust outcomes, while providing first class service across multiple time zones.

    Tim Carr

    CFO, Everlight Radiology
  • Working with Touchstone has made a painful process extremely easy, time and time again. The team is diligent, efficient and unlike other companies we’ve tried, fundamentally understands the needs of a fast-growing technology company. We wouldn’t use anyone else.

    Ben Stephenson

    CEO & Founder, Impala Travel
  • Krekar and the team have delivered for us on numerous occasions since we founded our business a couple of years ago. We have always found them to be highly professional, well versed across their subject matter, responsive and would have no hesitation in recommending them for valuation services.

    Ivan Ronald

    CFO, Venterra Group PLC
  • Touchstone Advisory were a pleasure to work with on our recent company valuation. The team worked with pace and provided valued technical advice, grounded in good commercial understanding of our business. The team were always available to answer questions, no matter how big or small.

    Michelle Woolaghan

    Finance Director, Rapha Racing
  • Touchstone Advisory’s professionalism and client-oriented approach impressed us during the vendor selection process, and they efficiently handled complex valuation issues in a recent M&A transaction. We appreciated their availability on short notice, timely delivery, and enjoyed working with their intelligent, agile team, making them a reliable partner for valuation topics.

    Maryna Hryhorieva & Nataliya Fedorova

    Global Savings Group