Value a business with a five-year DCF on normalised EBITDA, a built-up WACC and a sensitivity grid, with a multiples band as a cross-check — and carry the outcome straight into your situation: succession with the business succession relief, a substantial-interest settlement, a WHOA comparison against liquidation value, or a division on divorce.
A DCF outcome depends more on the discount rate and terminal growth than on the cash flows themselves. Half a percentage point of WACC readily shifts the value of a mid-sized business by a tenth. That is why the sensitivity grid sits beside the outcome rather than in an appendix: it shows how sharply your value moves under assumptions just as defensible as your own. And that is why the multiples band is there — not as a second valuation, but as a plausibility check.
The tax overlay then makes the value concrete. In a succession, the split between business and investment assets determines how much of the value falls under the exemption and what remains subject to gift or inheritance tax; for a substantial interest it is the gain over the acquisition price, possibly after a discount for lack of marketability. Every report records the normalisation, the WACC build-up, the assumptions and the dataset vintage used, so the valuation stays traceable and repeatable.