If the amount of chargeable consideration for a transaction is to any extent contingent or uncertain (but not unascertained), the buyer has the opportunity to apply to defer all or part of the tax.

As noted in ¶303-710, when consideration is contingent, the buyer must, in the return for the transaction, calculate the chargeable consideration on the basis that the outcome of the contingency is that consideration will be payable, or will not cease to be payable.

As noted in ¶303-720, where the consideration is uncertain, the buyer must, in the return for the transaction, calculate the chargeable consideration on a reasonable basis.

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.