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The Council Tax Reduction (Scotland) Regulations 2021
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Valuation of capital
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70.—(1) Capital is to be calculated at its current market value or surrender value less—
(a)where there would be expenses attributable to sale, 10 per cent, and
(b)the amount of any encumbrances secured on it.
(2) The market value of a capital asset possessed by an applicant in a country outside the United Kingdom is—
(a)if there is no prohibition in that country against the transfer of an amount equal to the value of that asset to the United Kingdom, the market value in that country, or
(b)if there is such a prohibition, the amount it would raise if sold in the United Kingdom to a willing buyer.
(3) Where capital is held in currency other than sterling, it is to be calculated after the deduction of any banking charge or commission payable in converting that capital into sterling.
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