After undertaking a six month tender process, Her Majesty’s Revenue and Customs appointed John Pye & Sons as contractual Valuation and Auction Agents for HMRC VAT arrears asset sales.

We now manage more than 1,150 instructions a year on behalf of  the HMRC, covering the Midlands, Anglia, Greater London and the South West to appraise, value, recover, transport, store, remarket and sell assets by auction for the UK Treasury.

The HMRC require Auction providers that can demonstrate a wide portfolio of asset management. As well as instructions being far and wide, they are also varied across asset and stock types; ranging from standard shop stock holdings and private vehicles through to plant, machinery, aviation and marine assets.

At the time of going to press, a recent instruction from HMRC involved the marketing and auction sales of a light aircraft, which achieved a hammer price of £97,100.