Share losses against tax

chantaspell

Hi,

I know that you can put share losses against tax if the company the shares are in has become of negligible value.

Can you also put a loss against tax if you sold the shares at a loss but the company is still trading?

Many thanks

T

BoGoF

No you could only set the loss against current/future gains.

jimmo

chantaspell wrote: »

Hi,

I know that you can put share losses against tax if the company the shares are in has become of negligible value.

That’s sort of true but sort of false.
A negligible value claim is one thing and a successful claim establishes a Capital Gains loss as if you had sold the shares for nil.
Once you have established a Capital Gains loss, either by way of selling the shares or a negligible value claim, you can look at whether you can claim Income Tax relief on that Capital Gains loss.
As it happens both subjects are covered by the same HMRC help sheet.
Take a look here.
http://www.hmrc.gov.uk/helpsheets/hs286.pdf