Commentary

C2.109 The market value rule

Capital gains tax
Capital gains tax | Commentary

C2.109 The market value rule

Capital gains tax | Commentary

C2.109 The market value rule

The consideration for the disposal of an asset is deemed to be its open market value at the date of the disposal in the following circumstances:

  1.  

    (a)     gifts or transactions otherwise than by way of a bargain made at arm's length; these include settlements and additions to settlements1

  2.  

    (b)     distributions from a company in respect of shares in the company, for example a distribution of shares in another company2

  3.  

    (c)     disposals made wholly or partly for a consideration which cannot be valued3

  4.  

    (d)     assets transferred in connection with the loss of office or employment or a

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