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HMRC internal manual

Capital Gains Manual

Assets: valuation: when is a valuation needed

There are many circumstances in which a valuation of an asset may be needed for Capital Gains Tax. The most common are

  • where an asset is disposed of to a connected person or otherwise by way of a bargain which is not at arm’s length, TCGA92/S17 and TCGA92/S18, see CG14530+.
  • where only part of an asset is disposed of and a valuation is needed of the part retained, TCGA92/S42, see CG12730+.
  • where rebasing to 31 March 1982 applies, TCGA92/S35, see CG16700+.
  • where an asset is inherited, TCGA92/S62, see CG31140.
  • where an asset is disposed of for consideration in monies worth rather than in cash, TCGA92/S37, see CG14500.