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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15946
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I have invested approx £23k in a software solution with a company

Customer Question

I have invested approx £23k in a software solution with a company this year and had no return yet. Can I offset this against tax, and if so what do I do. I pay PAYE (40% rate) and fill out an annual tax return
Submitted: 1 year ago.
Category: Tax
Expert:  TonyTax replied 1 year ago.
Hi. Unless you made this investment through an Enterprise Investment Scheme or a Seed Enterprise Investment Scheme or a Venture Capital Trust scheme, you cannot claim tax relief for your initial investment I'm afraid. Take a look here for your tax relief options if the investment goes bad. I hope this helps but let me know if you have any further questions.
Expert:  TonyTax replied 1 year ago.
I'm just following up to find out if my answer helped or if you have any further questions.