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Loss on the sale of shares! urgent help needed please!

kellypkellyp Feels At HomeBristolRegistered Posts: 36
Hi,

I have a new client who has disposed of their shares and has made a small loss.
i.e. purchased shares for approx £2500
sold shares for approx £2000

Can the loss be off-set against their income tax bill?
If so, how do I do this?
Im soooo confused! any help is very much appreciated!

:001_unsure:

Comments

  • readerreader Experienced Mentor MAAT, AAT Licensed Accountant Posts: 1,042
    kellyp wrote: »
    Hi,

    I have a new client who has disposed of their shares and has made a small loss.
    i.e. purchased shares for approx £2500
    sold shares for approx £2000

    Can the loss be off-set against their income tax bill?
    If so, how do I do this?
    Im soooo confused! any help is very much appreciated!

    :001_unsure:

    No income tax relief; loss to be c/f and offset against future capital gains.

    By the way I'm assuming that the shares do not belong to a qualifying EIS company

    In the unlikely event that she did invest in an EIS then there is income tax relief.
  • kellypkellyp Feels At Home BristolRegistered Posts: 36
    Thanks so much for your reply.
    I dont think its an EIS. All I have been given is a contract note detailing the sale of shares, the price, the consideration and the commission paid. Venue was the London stock exchange...

    Do I need to enter the disposal anywhere on the SA tax return or is it completely irrelevant?

    Thanks again
  • readerreader Experienced Mentor MAAT, AAT Licensed Accountant Posts: 1,042
    kellyp wrote: »
    Thanks so much for your reply.
    I dont think its an EIS. All I have been given is a contract note detailing the sale of shares, the price, the consideration and the commission paid. Venue was the London stock exchange...

    Do I need to enter the disposal anywhere on the SA tax return or is it completely irrelevant?

    Thanks again

    Fill in boxes 6 and 10 of the capital gains summary.
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