CG12040 explains the circumstances in which a contractual right is capable of being an asset for chargeable gains purposes.

When a capital sum is received in connection with a contractual right it is essential to establish the facts in order to decide whether the receipt was derived from:

an asset that was the subject of the contract, or

the bundle of contractual rights to which the recipient was entitled under the terms of the contract, or

a specific contractual right that is capable of being separated out from the bundle of rights in the contract.

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