# Income Tax (Earnings and Pensions) Act 2003, Section 208: Meaning of “market value”


For the purposes of this Chapter the market value of an asset at any time is the price which the asset might reasonably be expected to fetch on a sale in the open market at that time.

---
Source: https://www.legislation.gov.uk/ukpga/2003/1/section/208 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/section-208
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.