CG15083 - Deferred consideration: unascertainable: election for treatment of loss - basic requirements
TCGA92/S279A
A person, “the taxpayer�, is entitled to elect for an allowable loss, “the relevant loss�, which would otherwise accrue to him in one tax year, “the year of the loss�, to be treated as accruing to him in an earlier tax year if certain requirements are met.
»Ê¹ÚÌåÓýapp loss must accrue on a disposal by the taxpayer of a right which meets five specified conditions, see CG15084.
»Ê¹ÚÌåÓýapp taxpayer must be within the charge to CGT for the year of the loss, see CG15088.
Two further specified conditions must both be met, referred to in TCGA92/S279A as “Condition 1� and “Condition 2� respectively, see CG15085 and CG15086.