Taxation of Chargeable Gains Act 1992 section 272

Valuation: general

Section 272 sets out the general rules for determining the market value of assets for capital gains tax purposes, including specific provisions for listed securities, unit trusts and open-ended investment companies.

• Market value means the price assets might reasonably be expected to fetch on a sale in the open market, with no discount for flooding the market
• The Treasury may make regulations for valuing shares or securities listed on the official UK list or on recognised stock exchanges outside the United Kingdom
• Unit trust holdings are valued at the lower (buying) price published by the scheme managers on or before the relevant date
• Shares in open-ended investment companies are valued at the price published by the authorised corporate director on or before the relevant date