LF Woodford fund - how will compensation affect claiming a capital loss

helibird

I am thinking of registering my capital loss for the LF Woodford fund with a view to claiming it against CG in this and subsequent years. How will the proposed compensation affect the capital loss

talexuser

It will need to be subtracted because obviously a gain.

wmb194

helibird said:

I am thinking of registering my capital loss for the LF Woodford fund with a view to claiming it against CG in this and subsequent years. How will the proposed compensation affect the capital loss

Does it meet the requirements to be declared as a capital loss? I don't have time to Google it for you but there are criteria to meet for defunct investments before HMRC allows you to.

helibird

Yes I believe it qualifies as a capital loss and that I need to register the loss within 4 years of when it occurred. The first partial distribution occurred in March 2020 so I would like to register it on this years tax return(22-23 . There were subsequent losses for distributions in later years. I can work out the loss occurring at each distribution which so far comes to over £4000 with a small residual value still. No compensation has been agreed yet although the suggestion is it might be about £700 but if I wait for this before registering my loss I might exceed the 4 year time limit.
If I don't receive the compensation until later years can i just include it as a capital gain in that year

mjhn_2

I am trying to find out what the gains and losses are for the disposals by the liquidators link for the LF Woodford C Accumulation Fund but am unable to find this out. Can anyone help me as realise I have to register with the revenue any losses by 5th April for 19-20 tax year and am not sure where to find the information to calculate this'd see helibird above has managed to do this so would be extremely grateful for any help, many thanks

masonic

mjhn_2 said:

I am trying to find out what the gains and losses are for the disposals by the liquidators link for the LF Woodford C Accumulation Fund but am unable to find this out. Can anyone help me as realise I have to register with the revenue any losses by 5th April for 19-20 tax year and am not sure where to find the information to calculate this'd see helibird above has managed to do this so would be extremely grateful for any help, many thanks

This post might be of help: https://forums.moneysavingexpert.com/discussion/comment/77535908/#Comment_77535908