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englishbob said:
“
Hi All
Some advice please.
i have a query with client who has a shares values loss and now at neglible value.
i assumed just treated as CGT loss 20% of value. However client believes whole value can be offset against income.
i can see grounds for this on the gov.co.uk site but appears unclear to me when does and doesn’t apply ?
thanks
Paul
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Hi Paul
These links from HMRC should help you:
https://www.gov.uk/tax-sell-shares/work-out-your-gain
https://www.gov.uk/capital-gains-tax/losses
I believe that losses can only be offset against capital gains, not other types of income.
Cheers
Andrew
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