Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
, see all updates

Valuation of assets: no value `ascertained' for IHT purposes

If no value has been `ascertained’ for IHT purposes, then the market value of the asset at the date of death should be determined for Capital Gains Tax purposes using the normal principles and procedures used in other situations for arriving at market value. The market value that will be required is that of the holding or interest passing to the personal representatives even if the value is needed for the purposes of a computation relating to a legatee to whom only part of the interest or holding passed (see CG31160).