Section 168 Unquoted shares and securities.
In determining the price which unquoted shares or F1unquoted securities might reasonably be expected to fetch if sold in the open market it shall be assumed that in that market there is available to any prospective purchaser of the shares or securities all the information which a prudent prospective purchaser might reasonably require if he were proposing to purchase them from a willing vendor by private treaty and at arm’s length.
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Annotations
Textual amendments
- F1
Finance Act 1987 Sch. 8, para. 12(1),with effect from 17March 1987.
- F2
Repealed by 1987 s. 58(2)and Sch. 8, para.12(2),with effect from 17March 1987.
Notes on the whole Act
Textual amendments
- F1
By Finance Act 1986 s. 100(1), on and after 25 July 1986 the Capital Transfer Tax Act 1984 may be cited as the Inheritance Tax Act 1984.