Company Valuation Services - Experts Witness Valuation

Business Valuation Expert Witness Reports for Legal Proceedings

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Independent. CPR Part 35 or FPR Part 25 Compliant. Court-Ready.

If you’re a solicitor, barrister, or business owner involved in a legal dispute, our expert witness valuation reports provide clear, defensible assessments of business value for use in court or mediation. Backed by decades of experience and deep market knowledge, we deliver objective reports that stand up to scrutiny, every time.

Need a valuation for divorce, shareholder dispute or litigation?

Make a confidential enquiry

What Is an Business Valuation Expert Witness Report?

A business valuation expert witness report is a formal, court-compliant assessment of a business’s worth, prepared by an independent expert for use in legal proceedings. At Hilton Smythe, we act as single or joint experts under either FPR Part 25 or CPR Part 35, helping clients navigate complex cases with clarity and authority.


Common contexts include:

  • Matrimonial proceedings (divorce / financial remedy).
  • Shareholder disputes.
  • Partnership breakdowns.
  • Commercial litigation.

  • Tax tribunal and inheritance cases.

  • Insolvency and compulsory purchase disputes.

Our Credentials

  • Fully FPR Part 25 or CPR Part 35 Compliant.
  • Independent, impartial and appointed by solicitors or courts.
  • Experience spanning SME, owner-managed, and mid-market businesses.
  • Trusted by legal professionals across the UK.
  •  Reports prepared by real-world dealmakers with valuation and M&A credentials.

Led by Gareth Smyth, our team combines transactional insight with expert witness rigour. We understand how real world buyers and investors value businesses and how that translates into court settings.


When Is a Valuation Needed?

Business valuation expert witness reports are required when parties disagree on the worth of a business or shareholding, whether for division of marital assets, resolving disputes between shareholders, or determining fair value during litigation.


We are frequently instructed to act as:

  • Single Joint Expert (SJE).
  • Party-Appointed Expert.
  • Shadow Expert Advisor (see below).

What Our Reports Include


Every report follows a structured, FPR Part 25/CPR Part 35 compliant format and typically includes:

  • Background of the business and shareholding.
  • Purpose and basis of valuation (e.g. fair value, market value).
  • Analysis of historical financials.

  • Normalised earnings and management adjustments.

  • Explanation of methodology used.

  • Final valuation conclusion.

  • Expert declaration and statement of truth.

We tailor our scope to suit the case and the level of disclosure required.

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How We Value a Business in Legal Proceedings


Depending on the business and context, we may use one or more of the following valuation approaches:

  • Earnings multiples (EBITDA / profit-based methods).
  • Discounted Cash Flow (DCF) for future-looking or high-growth companies.
  • Net Asset Valuation (NAV) for holding or asset-intensive businesses.

  • Comparable company and transaction analysis.

  • Dividend yield or maintainable earnings, if relevant.

We also consider:

  • Minority discounts or control premiums.
  • Lack of marketability.
  • Excess remuneration and related-party transactions.

  • Adjustments for one-off or non-commercial activity.

Behind-the-Scenes Support: Shadow Expert Reports


In sensitive or complex cases, solicitors often engage us as shadow valuation experts to provide confidential input behind the scenes, even when a single joint expert is already appointed.


This service is ideal when you need to:

  • Critically assess an existing expert’s conclusions.
  • Prepare informed CPR 35.6 questions.
  • Understand how different assumptions affect value.

  • Shape negotiation strategy or Part 36 offers.

  • Identify inconsistencies or alternative interpretations.

Our Shadow Support May Include:

  • Desktop critique of the joint expert’s report.
  • Financial recalculations and alternative valuations.
  • Bullet-point advisory memos for solicitor or counsel use.

  • Support with drafting questions for cross-examination.

  • Strategic commentary on valuation levers.

We remain off-record and independent, supporting you discreetly with clarity and commercial insight.


Make a confidential enquiry

Strategy & Advice to Influence Valuation Outcomes


While our role as an expert witness is strictly independent and impartial, we regularly advise clients and legal teams on how value might vary depending on assumptions, structure, and presentation—particularly during early-stage disputes or negotiations.


Key areas that can significantly impact valuation include:


To Increase Value:

  • Demonstrating recurring or contracted revenues.
  • Adjusting for below-market director salaries.
  • Removing one-off costs or COVID-era disruption.

  • Highlighting growth potential, new contracts or market expansion.

  • Correcting incorrect cost capitalisation or depreciation policies.

  • Clarifying ownership of IP, brands, or goodwill.

To Reduce Value:

  • Applying minority interest discounts (especially <50% shareholding).
  • Considering lack of control or decision-making authority.
  • Highlighting customer concentration or key person risk.

  • Excluding speculative forecasts not backed by evidence.

  • Noting litigation, poor credit, or tax investigations.

  • Stress-testing working capital and realisable asset values.

We can help legal teams model valuation ranges, critique unreasonable assumptions, and ensure all material facts are properly understood in the context of the dispute.


Case Experience 

  • £4.2m e-commerce business – Matrimonial valuation (joint expert).
  • £1.8m construction firm – Shareholder exit dispute.
  • Professional services firm – Shadow critique of opposing expert’s report.
  • Retail chain – Valuation.

We act across all sectors, including tech, hospitality, health, manufacturing, services and e-commerce.

FAQs

How long does a valuation report take?

3 to 6 weeks, depending on scope and data availability. Expedited options available.

Are your reports CPR Part 35 compliant?

Yes, all expert witness reports are prepared in line with Civil Procedure Rules (CPR 35) and include a statement of truth.

Can you act as both expert witness and shadow expert?

No. We maintain strict role separation to preserve independence.

Do you appear in court?

Yes, if required. Our experts provide oral testimony, cross-examination preparation and conference with counsel.

Do you offer fixed fees?

Yes – fixed-fee quotes are available for most valuation instructions, with transparent scoping and no hidden costs.

Why Choose Hilton Smythe?

  1. 1
    Valuation expertise grounded in real-world deal experience.
  2. 2
    CPR 35 compliant, court-ready reports.
  3. 3
    Trusted by solicitors, barristers and family lawyers nationwide.
  4. 4
    Responsive and jargon-free.
  5. 5
    Valuations from £2,500 + VAT (fixed fee on request).
Whether you’re preparing for litigation, mediation or financial settlement, we deliver expert insight you can rely on.

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Our business valuation expert witness reports form part of our Company Valuation Services. If you’re a solicitor, barrister, or business owner needing a formal valuation for court or strategic support behind the scenes, we can help.

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