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Any guidance gratefully received.

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15th Feb 2016 11:23

Market value

TCGA 1992 s62 requires that the asset is inherited at market value. S274 says that probate value is deemed to be market value if the value has been ascertained as part of dertermining IHT liability. Clearly this is not the case here (even if Portugal had an IHT regime) so probate value can be disregarded in favour of actual market value.

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