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TonyTax
TonyTax, Tax Consultant
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Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I invested 10000 under the EIS in a company which went into

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I invested 10000 under the EIS in a company which went into liquidation. Can I claim the loss against income tax?
JA: What are the assets or property for this capital loss?
Customer: the assets were shares but the company isnow in liquidation with no assets
JA: Anything else you want the Accountant to know before I connect you?
Customer: no thanks
Customer: replied 8 days ago.
its unlisted shares. How would I list disposal proceeds if the company is liquidated as HMRC do not allow 0

Hi. My name is*****'m looking at your question now and will post my answer or ask for more information here in a short while.

Customer: replied 8 days ago.
thanks

Is the company in liquidation or has it been dissolved? When did the shares become worthless?

Customer: replied 8 days ago.
on 8 jan this year the company went into liquidation

Do you complete annual tax returns? Did you claim income tax relief for the original investment?

Customer: replied 8 days ago.
albion tea ltd
Customer: replied 8 days ago.
sorry, it dissolved on 8 jan this year

Thanks.

You need to wait for the 2020 tax return to be issued along with the 2019/20 SA108 capital gains pages. The 2018/19 SA108 capital gains pages are here along with guidance notes here. The section you will complete is labelled "Unlisted shares and securities". You can claim income tax relief for 2019/20 or 2018/19 or a combination of the two. If you claimed tax relief for the original investment you need to reduce the loss by the amount of the tax relief you had. Set out how you arrived at the loss in the notes space at the end of the SA108 pages.

If you don't complete tax returns you will need to make the loss claim in writing.

I hope this helps but let me know if you have any further questions.

Customer: replied 8 days ago.
Hi thanks Tony. I have a couple of follow up questions
1. why can't I claim this in this years return i.e. apr 2018 to apr 2019 as it fell within this period.
2. i've had a look under the 'unlisted shares and securities' but have a problem as it doesn't allow me to list the disposal proceeds as 0, which I assume it should be as I haven't got any money back
3. Whilst these are EIS shares I never claimed for tax relief for the original investment. Can this still be claimed?

1 The company was dissolved in 2019/20.

2 I have used £0 in that box many times. Try leaving it blank.

3 You can make an income tax relief claim for up to 5 years after the first 31 January following the original investment. You should have been given an EIS3 certificate with the company tax details on it after you invested.

TonyTax and other Tax Specialists are ready to help you
Customer: replied 8 days ago.
many thanks for the help

Thanks.