Part 7Employment income: income and exemptions relating to securities
F1Chapter 1Introduction
Interpretation of Chapters 1 to 5
421Meaning of “market value” etc
(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.