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HMRC internal manual

Capital Gains Manual

Deferred consideration: shares and securities: position before TCGA92/S138A - ESC/D27

TCGA92/S138A & ESC/D27

Prior to 26 November 1996 the treatment now available under TCGA92/S138A could be achieved by a claim under ESC/D27. To claim under the ESC the taxpayer had to satisfy the same conditions as were required for an election under TCGA92/S138A for rights conferred before 10 April 2003 - see CG58022. The examples in this part of the manual would be the same if, instead of an election under TCGA92/S138A, there was a claim to the benefit of ESC/D27 made before 26 November 1996, when the ESC was withdrawn.

If the `right’ was acquired before 26 April 1988 the conditions in CG58022 as they applied to the concession were relaxed. Guidance on rights acquired before 26 April 1988 is at CG58050.