PART V MISCELLANEOUS RELIEFS
C1CHAPTER I BUSINESS PROPERTY
Annotations:
Modifications etc. (not altering text)
110 Value of business.
For the purposes of this Chapter—
a
the value of a business or of an interest in a business shall be taken to be its net value;
b
the net value of a business is the value of the assets used in the business (including goodwill) reduced by the aggregate amount of any liabilities incurred for the purposes of the business;
c
in ascertaining the net value of an interest in a business, no regard shall be had to assets or liabilities other than those by reference to which the net value of the entire business would fall to be ascertained.
Pt. V Ch. I (ss. 103-114) modified (16.7.1992) by Finance (No.2) Act 1992 (c. 48), s. 73, Sch. 14, para. 9(4).