CGT on deferred consideration
Client sold land in 10/11.
The contract included £60,000 which would be paid contingent on there not being contamination of land which the buyer was developing. ie if extra work in removing the contanimation was £40K then the seller would receive £20K.
The full 60K was received in 11/12, there has been no withold of this retention.
When should this 60K be taxed.
I think 10/11 on the basis that it's ascertainable. It's not a Marren Ingles thing as it's known but the "60K when condition is met" is muddying my thinking.
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