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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Deferred consideration: unascertainable: election for treatment of loss - interaction with TCGA92/S138A


Where an election is made under TCGA92/S279A for an allowable loss accruing on a disposal of a right which is an earn-out right that was conferred before 10th April 2003 to be treated as accruing in an earlier tax year, no election may be made under TCGA92/138A to treat that right as a security.

See the guidance at CG58000+ for details of the changes to the elective provisions in TCGA92/S138A that are provided for by Section 161 FA 2003 in relation to earn-out rights conferred on or after 10th April 2003.