Gifts: hold-over relief: actual consideration passes
If actual consideration passes, see CG66982(2) and CG67090, and the asset was held on 31 March 1982, it will be necessary to obtain a valuation at 31 March 1982 in the normal way, see CG67170.
It will not be necessary to obtain a valuation at the date of transfer provided the actual consideration that passes is less than the valuation of the asset at the date of transfer. SP8/92 can apply.
It follows that if the consideration that passes is equal to or greater than the valuation of the asset at the date of transfer then there has not been any gift and SP8/92 is not relevant.