A client of mine holds some shares in a madagascan company, he is planning to sell at quite a gain. My understanding is the gain is worked out in the usual way (he is uk resident) can anyone confirm?
He is also concerned that he might not receive all the money as it is going to be paid in installments, again my understanding is that if all the shares are sold then the full tax liability will be payable and calculated at the transaction date no matter if he is paid in installments can anyone confirm ?
Finally he has asked if he can claim 'bad debt relief' with regards to the tax liability if he doesnt receive all the consideration. Again i am pretty certain he cant - but for piece of mind can anyone confirm?