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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Deferred consideration: shares/securities: ascertainable/unascertainable

There is an important distinction between deferred ascertainable and deferred unascertainable consideration. Detailed guidance is at CG14880+. Put simply the amount of the deferred consideration is

  • ASCERTAINABLE if the amount payable is fixed by reference to events which have happened before the date of the disposal
  • UNASCERTAINABLE if the amounts payable depend upon events which occur after the date of disposal.

TCGA92/S138A can apply only to a right to deferred unascertainable consideration. It cannot apply where deferred consideration is ascertainable but contingent. TCGA92/S48 applies in such cases, see CG14881.