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Subject to meeting the criteria, you can claim income tax relief against income for a loss on EIS shares (the original investment less the income tax relief given). You can claim relief against income of for the tax year of the loss or against income of the previous tax year.
Take a look here and here for more information.
I hope this helps but let me know if you have any further questions.
Let me get my reference back up.
You need to make a claim for the loss in your tax return for the tax year that the shares became worthless and then chose whether you want to claim income tax relief against the tax year of the loss or the previousl tax year. I've dont it many times for clients. Why do you think you can only make a claim against gains?
If you look at the SA108 CG pages here, you are given the option of claiming certain capital losses against income.
You enter the loss in the quoted or unquoted boxes on page CG2 and then claim income tax relief in boxes 12 and/or 13 on page CG1.
Not at all.
Or boxes 14 and 15 on page CG1.
If the company still exists put NVC (see page 3 of the notes here) in box 22 on page CG2. If the company has been duissolved, put OTH in box 22 on page CG2 instead. Then, give details of the claim in box 38 of page CG2
The higher your income in the tax year of loss or the previous tax year, the better.
If the loss is incurred in 2016/17. you can claim against income of 2016/17 or 2015/16. See the notes here.
If the company was in trouble in an earlier tax year, you can try to claim that the shares were of neglible value in an earlier tax year and, if you are successful, claim tax relief against that tax year or the one before.
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