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CGT query

UK resident client has sold some shares in a US listed company realising a substantial capital gain.  Roughly 15% of the proceeds have been retained in escrow to cover potential environmental claims.  My client believes he will never see this money.

Is the gain calculated using the full proceeds or the proceeds less money held in escrow.  I've never come across this before so if someone could point me in the right direction it would be much appreciated.


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04th Dec 2012 15:29

Read the legislation

s. 48 TCGA

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