CGT instalments and ER
Taxpayer has a £3m gain on sale of shares, qualifying for Entrepreneurs relief.
£2m paid immediately , £1m over two instalments at + 12 months and + 24 months.
Consideration is ascertainable.
Q - is there any Entrepreneurs relief restriction if an election under TCGA S280 to pay by instalments is made.
My colleague thought there was, but my research today can't find anything confirming this.
My colleague may be thinking of a Marren v Ingles unascertainable situation though, where loss of ER on the deferred earn out right is a known issue.
My conclusion is that for a straightforward payment by instalment arrangement, ER isn't compromised by TCGA S280 claim to pay by instalments.
Any quick thoughts from the floor?