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Self Assessment Shares Loss

  • Member
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  • # 119296

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

  • Member PM.Dip
  • Practice Licence
  • 18 posts
  • # 119299

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


 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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