This 
    accurate drawing 
    has been prepared by
    Julian Wooldridge after
    checking my pics and 
    swapping a few emails
    ....many thanks
    Julian...this is extremely
    helpful and may save
    a few broken valves
    and hearts.
  
  Exhaust Valve Cutouts
  for MGB blocks 
  
When 
  18v cylinder heads or modified cylinder heads are fitted
  to non-18v blocks there is a danger of the exhaust valves hitting the
  top of the block when the valve is at full lift. This applies to both 
  standard and modified lift camshafts.
  To overcome this problem cutouts are needed in the block. The easiest
  way of machining the cutouts is to use a half-round hand file ( not too 
  rough a cut on the file please!).
  Prepare a cylinder head for marking out the position of the exhaust valves
  by stripping all the valves from the head, leaving the exhaust valves (held 
  in 
  place with an elastic band on each valve). Apply some dark coloured felt-tip
  pen or engineers blue to the top of the block around the bores.With the head
  studs fitted to the block, lower the cylinder head into place (you don't need
  to fit a head gasket for this job). Push an exhaust valve down till it contacts
  the block, rotate the valve to mark the top of the block. Repeat this 
  operation for each of the exhaust valves.

Remove 
  the cylinder head and inspect 
  the cutouts, if you can't see them......
  do them again!
  Using the half-round file carefully file
  the block to a depth of around 3mm
  or 1/8th" and to the edge of the valve
  plus 1mm or 40 thou.
  Recheck the valve to block clearance
  again by lifting the exhaust valve to 
  cam lift plus 2mm / 80 thou.
  The accompanying photographs show 
  the shape and dimensions of the standard
  cutout in an 18v block.