# Taxation of Chargeable Gains Act 1992, Section 274: Value determined for inheritance tax.

Extent: E+W+S+N.I.

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 the 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.

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Source: https://www.legislation.gov.uk/ukpga/1992/12/section/274 (the official version)
Page: https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/section-274
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.