Except as otherwise provided by this Act, the value at any time of any property shall for the purposes of this Act be the price which the property might reasonably be expected to fetch if sold in the open market at that time; but that price shall not be assumed to be reduced on the ground that the whole property is to be placed on the market at one and the same time.
Section 160: Market value.
Inheritance Tax Act 1984 · 1984 c. 51View on legislation.gov.uk
Part VI: VALUATION — CHAPTER I: GENERAL
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