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HMRC internal manual

Capital Gains Manual

Deferred consideration: shares and securities: qualifying claimant

Only the vendor of the shares or securities who acquires the right to deferred unascertainable consideration may elect under TCGA92/S138A, either for assumed security treatment if the right is conferred before 10 April 2003, or out of that status if the right was conferred after 9 April 2003, see CG58023. If the right passes to another person (for example a no gain/no loss transfer between spouses or civil partners) the person now having the right cannot elect.