We accept Single Joint Expert appointments to value businesses, shareholdings and related interests in family and civil proceedings.
When is this valuation required?
- The court has directed a Single Joint Expert valuation in financial remedy proceedings.
- Parties to a civil or commercial dispute agree to share one valuation expert.
- Parties want a joint valuation before proceedings, to help settlement.
Who instructs us?
- Solicitors for both parties, through a joint letter of instruction
- Parties acting in person, where permitted
What exactly is valued?
Whatever the joint letter of instruction asks: typically the value of a business or a shareholding at a specified date and on a specified basis, sometimes with related questions about liquidity, income or tax on extraction.
How is value assessed?
The valuation itself follows the same professional principles as any other. What differs is the process. We work only from the joint instructions, share information and communications even-handedly, avoid private discussions with either party about the substance of the case, and make clear when facts are disputed by showing the effect of each party's version.
How the approaches are usually weighed
Typical
- IncomeMaintainable earnings or discounted cash flowUsual starting point
- MarketComparable transactions and companiesCross-check
- AssetAdjusted net assetsWhere relevant
Accepting the appointment
Before accepting, we check for conflicts with all parties, confirm we have the necessary expertise for the questions asked, and provide a fee estimate and timetable that the parties and the court can consider. If the questions in the draft letter of instruction are unclear, we say so early, as ambiguous instructions are a common cause of later disagreement.
Written questions
After the report is served, either party may usually put written questions to the expert to clarify the report, within the limits and timescales set by the relevant rules or the court. Our answers form part of the evidence and are shared with both parties.
What factors influence the result?
- Clarity of instructions
- Precisely worded questions produce answers both parties can use.
- Disputed facts
- Shown as alternative scenarios, not decided by the expert.
- Equal access to information
- Both parties see what the expert has relied on.
- Proportionality
- Scope and cost appropriate to the value and complexity of the matter.
What information is required?
- The joint letter of instruction and the court order
- Business accounts and management information
- Constitutional and shareholder documents
- Any information either party wishes to provide, shared with the other
We send a tailored information request once the scope is agreed.
What report will you receive?
We prepare a report addressed to the court, complying with the applicable rules and practice directions, including statements of the expert's duty, the instructions received, the material relied on and a statement of truth. We answer written questions and, where required, attend hearings.
See types of business valuation reports for how the scope of each type differs.
Timing and cost
How long will it take?
The court's timetable governs the deadline. We confirm before accepting that we can meet it given the information likely to be available.
How much does it cost?
Fees are usually shared equally between the parties unless the court directs otherwise. We provide an estimate before accepting the appointment.
How our fees are set →Frequently asked questions
What does a Single Joint Expert do?
Provides one independent expert opinion to the court on behalf of both parties, working from joint instructions and owing their duty to the court rather than to either side.
Can one party talk privately to the Single Joint Expert?
Not about the substance of the case. Communications are shared with both parties to preserve independence.
What if one party disagrees with the report?
They may put written questions to clarify it and, in some circumstances, apply to the court for permission to rely on further expert evidence.
Who pays the Single Joint Expert?
Usually both parties equally, unless the court orders otherwise.
Can you act as Single Joint Expert in civil cases as well as divorce?
Yes. The same principles apply in civil and commercial proceedings, under the rules applicable to those courts.
