Market value at the date of death

Section 274 TCGA 1992 provides that where the value of an asset forming part of an estate has been ascertained for Inheritance Tax purposes on a person's death, that value shall be taken to be the market value of the asset for CGT purposes at the date of death. The value ascertained for IHT purposes applies equally for CGT whether agreed unconditionally or without prejudice. This is notwithstanding the fact that the holding was valued as part of a larger holding by virtue of the estate concept and related property provisions.

If

the tax threshold was not exceeded on the death, or

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