As described in C2.109 there are specific circumstances when the consideration for the disposal of an asset is deemed to be its market value. For capital gains tax generally, 'market value' means the price which an asset might reasonably be expected to fetch on a sale in the open market1, see C2.120. In determining the market value of unquoted shares (those not quoted on a recognised stock exchange2) it must be assumed that there is available to any prospective purchaser all the information which a prudent prospective purchaser might reasonably require if they were proposing to purchase it at arm's length by private treaty from a willing vendor3.
HMRC's guidance can be found at SVM114000 onwards.
The information deemed to be available in each case will depend on the circumstances. For example,
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