ICAEW Chartered Accountant  ·  Independent Business Valuation  ·  London

Business Valuation UK —
Independent, ICAEW-Regulated, Defensible

An independent UK business valuation that holds up to HMRC, a buyer's finance team, an investor, or a court. Three-method approach, written by an ICAEW chartered accountant, delivered in 5–10 working days.

Whether you're researching how to value a business in the UK, preparing for sale, granting EMI options, raising equity, or settling a shareholder dispute — you need one document that does the job properly. Fixed fees from £2,500 +VAT.

5–10
Working days delivery
£2.5k+
Fixed-fee, no surprises
ICAEW
Regulated and chartered
3-method
EBITDA · revenue · DCF
Kish Patel ACA, ICAEW chartered accountant and independent UK business valuation expert

Kish Patel ACA

ICAEW Chartered Accountant
Independent Valuation Expert

"Most UK business valuations fall apart the moment a buyer's finance team, HMRC or a judge starts asking questions. The methodology has to be defensible before it's delivered — not after."

EBITDA multiple, revenue multiple & DCF triangulated
Benchmarked to UK comparable transactions
HMRC-ready: VAL231 (EMI), CG34, IHT & matrimonial
Fixed-fee, no hourly billing, no surprises
ICAEW Chartered Accountants — regulated UK business valuation

How to value a business in the UK

Three valuation methods. One defensible number.

A defensible UK business valuation triangulates three independent methods and benchmarks each one against comparable transactions. Anything less is opinion, not valuation.

Method 01

EBITDA Multiple

The standard approach for profitable UK SMEs. We normalise EBITDA — stripping out owner remuneration above market, one-off items and related-party charges — then apply a defensible sector multiple from our UK EBITDA multiples industry report.

Best for: profitable SMEs £500k+ EBITDA

Method 02

Revenue Multiple

The right approach for SaaS, software and high-growth tech where earnings are reinvested. We layer ARR, growth rate, gross margin and net revenue retention against listed comparables and recent private UK deals to produce a defensible ARR multiple.

Best for: SaaS, tech, high-growth

Method 03

Discounted Cash Flow (DCF)

A 5-year free cash flow model plus terminal value, discounted at a weighted average cost of capital (WACC) appropriate to a UK SME. Tests the intrinsic value of the business and sense-checks multiples-based outputs. Mandatory for valuations going to court.

Best for: court, disputes, intrinsic value

When you need an independent business valuation

Six moments every UK SME needs a defensible valuation

A free online business valuation calculator gives you a directional guess. These six scenarios all need a written, defensible figure that survives scrutiny from a buyer, HMRC, an investor or a court.

01

Pre-sale & M&A

Before approaching any buyer, you need to know your defensible value. Pair with our sell-side M&A advisory for the full sale process.

02

EMI option scheme valuation

Agree share value with HMRC via the VAL231 EMI valuation before granting options. We prepare the report and the submission.

03

HMRC share valuation (CG34)

Post-transaction valuation checks, IHT and capital gains. See our dedicated HMRC share valuation service.

04

Fundraising & investor decks

Seed, Series A, Series B. Investors challenge founder-set valuations within minutes. An independent valuation report removes that conversation.

05

Shareholder disputes & exits

Buy-outs, unfair prejudice petitions, drag/tag events. Court-ready expert valuation reports prepared to CPR Part 35 standards.

06

Divorce, probate & matrimonial

Independent single joint expert (SJE) appointments. Family-court-ready valuations with full minority discount and marketability analysis.

Indicative UK SME valuation multiples

What is my UK business worth? Indicative multiples by sector.

These are indicative UK SME valuation ranges — not a calculator. Where in the range a specific business sits depends on growth rate, recurring revenue, customer concentration, scale and management depth.

SectorEBITDA multipleRevenue multiple
SaaS & vertical software15x–30x4x–15x ARR
B2B platforms & tech-enabled services8x–15x1.5x–4x
Professional services (regulated)6x–10x1x–2.5x
Agencies & consultancies4x–8x0.5x–1.5x
E-commerce & consumer brands4x–10x0.5x–3x
Manufacturing & industrials4x–7x0.4x–1.2x
Healthcare services6x–12x1x–3x

Source: Consult EFC analysis of UK SME M&A transactions 2023–2025. For sector-by-sector detail and trailing 24-month multiple movement, see our full EBITDA multiples by industry UK report 2026.

Our valuation process

From kickoff to delivered report in 5–10 working days

1

Free 30-min call

Scope, intended use, fixed-fee quote.

2

Information request

3 years accounts, management info, forecasts. NDA-covered.

3

Modelling

EBITDA normalisation, three-method model, comparables benchmark.

4

Draft & review

Draft report walked through line-by-line with you on a call.

5

Final report

Signed ICAEW valuation report, ready for HMRC, buyer or court.

UK business valuation FAQs

Frequently asked questions about valuing a UK business

How is a UK business valued?
UK businesses are valued using three primary methods: an EBITDA multiple (applied to normalised earnings), a revenue multiple (most often for SaaS and high-growth businesses) and a discounted cash flow (DCF) model. A defensible valuation triangulates all three and benchmarks the output against comparable UK SME transactions in the same sector.
How much is my UK business worth?
Most UK SMEs sit on an EBITDA multiple between 3x and 8x, professional services and B2B platforms between 5x and 12x, and high-growth SaaS between 4x and 15x revenue. The right multiple within those ranges is driven by growth rate, customer concentration, recurring revenue quality, management depth and sector. A free 30-minute call with our ICAEW valuation expert will give you a defensible directional figure.
How much does a business valuation cost in the UK?
Independent UK business valuations from Consult EFC start at £2,500 plus VAT for a standalone SME valuation report. Cost depends on company complexity, the intended use (sale, HMRC, court, fundraising) and whether comparable transaction analysis is needed. All engagements are fixed-fee and quoted in writing before any work begins. No hourly billing, no surprises.
Can I use a free online business valuation calculator?
A free UK business valuation calculator gives you a rough directional number based on a single industry multiple. It is useful for an initial sense-check but it is not defensible to a buyer, HMRC, a court or an investor. For any decision with real money attached — a sale, an EMI scheme, a shareholder buy-out — an independent valuation by an ICAEW chartered accountant is the only defensible answer.
What is the difference between EBITDA multiple and revenue multiple valuations?
An EBITDA multiple values a business on normalised earnings and is the standard approach for profitable SMEs. A revenue multiple values a business on top-line sales and is used where earnings are reinvested for growth — typically SaaS, software and high-growth tech. Both should be modelled and benchmarked against UK comparable transactions in any defensible valuation.
When do I need an independent business valuation?
You need an independent business valuation before selling the company, before granting EMI options (HMRC VAL231), for a post-transaction CG34 clearance, when raising equity, in a shareholder dispute or buy-out, on divorce or probate, and any time a court, HMRC or an investor needs a defensible figure rather than your own estimate.
What is a VAL231 EMI option scheme valuation?
A VAL231 is the HMRC form used to agree the unrestricted market value of shares before granting EMI options. Getting it right protects both the company and the option holders from a future tax challenge. We prepare the underlying valuation report and the VAL231 submission, and deal with HMRC's queries directly — see our EMI option scheme valuation page.
What is an HMRC CG34 post-transaction valuation check?
A CG34 is HMRC's post-transaction valuation check, used after a share transaction to obtain HMRC's agreement on the market value used for capital gains purposes. It is filed within 12 months of the transaction and is supported by an independent valuation report. We prepare both — see our HMRC share valuation service.
Will HMRC accept my business valuation?
HMRC accepts independent valuations prepared by an ICAEW chartered accountant when the methodology is properly documented, comparable transactions are evidenced, and the valuation report addresses HMRC's standard challenges around marketability, minority discounts and special-purchaser premiums. Our valuations are written specifically to withstand HMRC review.
How long does an independent UK business valuation take?
A standard SME valuation report is delivered in 5 to 10 working days from receipt of complete financial information. Complex valuations involving multiple entities, intangible asset analysis or court-ready expert reports take 2 to 4 weeks. Tight deadlines — urgent EMI grants, deal exclusivity — are accommodated on request.
Can my accountant value my business?
Your accountant prepares your statutory accounts and tax returns — that is a different skill from independent business valuation. A defensible valuation requires comparable transaction databases, M&A deal experience and a methodology that holds up under HMRC and buyer scrutiny. Most UK SME accountants subcontract valuations to specialists like Consult EFC.
What information do you need to value my UK company?
We need three years of statutory accounts, the most recent management accounts, a 3-year forecast if available, the shareholder register, any shareholder agreements, and a brief description of the business model and customer base. Everything is handled under NDA from the first conversation.
Request a Valuation Quote

Tell us about your business — we'll come back within 1 working day

Whether it's for a sale, EMI options, HMRC, court, or fundraising — share a few details and Kish will reply personally with next steps and a fixed-fee quote. Everything is treated as confidential from the first message.

  • ✓ ICAEW chartered — regulated and insured
  • ✓ Fixed fees from £2,500 +VAT — no hourly billing
  • ✓ Delivered in 5–10 working days
  • ✓ NDA on request — your numbers stay private

ICAEW Chartered Accountant · Independent UK Business Valuation · London

Need a defensible valuation for your UK business?

Book a free 30-minute call with Kish. We'll scope what you need — sale, EMI, HMRC, court, fundraising — and give you a fixed-fee quote within 24 hours. No pressure. No pitch. Just a chartered accountant who values UK SMEs every week.

Free · Confidential · No obligation · ICAEW Regulated