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

kellyp

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:

reader

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.

kellyp

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

reader

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.