Schedule 4, paragraph 5A(3)

For the purposes of sub-paragraph (1)(a) an item’s value is taken to be the lower of— but where the amount described in paragraph (a) is not known, the item’s value is taken to be the amount described in paragraph (b). the cost to the donor of acquiring or, as the case may be, producing the item, and such consideration in money as would be payable by the donor if the donor were, at the time of the donation, to purchase— an item identical in every respect (including age and condition) to the item concerned, or where such consideration cannot be determined on the basis described in sub-paragraph (i), an item similar to and of the same age and condition as the item concerned;

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Source: legislation.gov.uk · retrieved 2026-07-28