Capital Gains Tax 85 - Cost or market value (if appropriate)

Enter the amount you paid to acquire the asset excluding any allowable costs of acquisition. If you created the asset yourself, (such as goodwill in a business), enter the costs of creating the asset, if any.

Use the market value in place of the price you gave if you received the asset as a gift, if it was deliberately sold to you for less than its full value, or if you acquired it from a connected person.

If you dispose of an asset that you owned at 31 March 1982, gains or losses are restricted to the amount of gain or loss by reference to their value at that date.

The market value is the price an asset might reasonably make on the open market on the date of its disposal. For shares and securities quoted on the Stock Exchange Daily Official List, the market value in all normal circumstances is the lower of:

• the figure one-quarter up from the lower of the 2 prices in the quotation for the relevant day
• the figure halfway between the highest and lowest prices of recorded bargains for that day

Further guidance and information, can be found in Capital gains summary notes.

More information about using the market value