Capital Acquisitions Tax Consolidation Act 2003 section 98

Value of business

Section 98 sets out how a business or an interest in a business is to be valued for the purposes of business relief under Capital Acquisitions Tax.

• The value of a business or of an interest in a business is taken to be its net value.
• Net value is the market value of business assets (including goodwill) less the aggregate market value of liabilities incurred for the purposes of the business.
• When valuing an interest in a business (e.g. a partnership share), only the assets and liabilities of the business as a whole are considered.
• Assets or liabilities of individual partners — even if used or incurred for the purposes of the business — are excluded when valuing an interest in a business.