Loss on the sale of shares! urgent help needed please!
kellyp
Registered Posts: 45 Regular contributor ⭐
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:
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:
0
Comments
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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.0 -
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 again0 -
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.0
