274 Value determined for inheritance tax.U.K.
Where on the death of any person inheritance tax is chargeable on the value of his estate immediately before his death and the value of an asset forming part of that estate has been ascertained (whether in any proceedings or otherwise) for the purposes of [F1the application of that tax to the estate], the value so ascertained shall be taken for the purposes of this Act to be the market value of that asset at the date of the death.
Textual Amendments
F1Words in s. 274 substituted (with effect in accordance with Sch. 4 para. 9(4) of the amending Act) by Finance Act 2008 (c. 9), Sch. 4 para. 8
Modifications etc. (not altering text)
C1Ss. 272-274 applied (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 210(1), 1184(1) (with Sch. 2)