This paper argues that the deferred uses of demonstratives and pronouns must be considered and handled as semantically identical to perceptual uses of these expression-types. This claim seriously affects our view of the scope and limits of a semantic theory. The aim of this paper is to explore the proper content of a formal semantic theory in two respects: clarifying first, which uses of expressions a formal theory should seek to accommodate, and, second, how much information the theory should contain. I explore these two questions with respect to occurrences of demonstratives and pronounsthe so-called 'deferred' useswhich are often classified as non-standard or figurative. I argue that, contrary to initial impressions, they must be treated as semantically identical to ordinary, perceptual uses of these expression-types, and that this finding has important repercussions for our view of the scope and limits of a semantic theory.