Commentary

I4.303 Loss on sale of shares — valuation

IHT, trusts and estates

I4.303 Loss on sale of shares — valuation

I4.303 Loss on sale of shares — valuation

For the purposes of these provisions, in determining the price at which any investment was purchased or sold (or the best consideration that could reasonably have been obtained on the sale of any investment) no account is taken of any expenses which are incidental to the purchase or sale (whether by way of commission, stamp duty or otherwise). Any stamp duty reserve tax would also be an incidental expense1.

The date of sale or purchase of any investments by the appropriate person (see I4.301A) is taken as the date on which he entered

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