Statute
Section 421 — Income Tax (Earnings and Pensions) Act 2003: Meaning of “market value” etc
Text of the provision Official document
Meaning of “market value” etc 421 1 In this Chapter and Chapters 2 to 5 “ market value ” has the same meaning as it has for the purposes of TCGA 1992 by virtue of Part 8 of that Act.
2 Where consideration for anything is given in the form of an asset (as opposed to a payment), any reference in this Chapter or any of Chapters 2 to 5 to the amount of the consideration is to the market value of the asset.
Official source: legislation.gov.uk
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