Income Tax Act 2007 (c. 3)

Part 8 U.K. Other reliefs

Chapter 3 U.K. Gifts of shares, securities and real property to charities etc

Value of net benefit to charity U.K.

438 Market value of qualifying investments U.K.

(1) The market value of a qualifying investment for the purposes of this Chapter is determined in accordance with sections 272 to 274 of TCGA 1992 (subject to Part 1 of Schedule 11 to that Act).

(2) But, in the case of an interest in an offshore fund for which separate buying and selling prices are published regularly by the managers of the fund, the market value for the purposes of this Chapter is equal to the buying price (that is the lower price) published on—

(a) the day of the disposal, or

(b) if none were published on that day, on the latest day on which the prices were published before that day.