I subscribed for new preference shares in an unquoted trading company.
The company went bust and I lost my entire investment.
Can I claim the loss against my income tax?
Any help much appreciated.
Granthamg
Capital loss on pref shares against income tax?
2 posts • Page 1 of 1
Capital loss on pref shares against income tax?
by granthamg on Mon Jan 09, 2012 6:16 pm
- granthamg
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Re: Capital loss on pref shares against income tax?
by mullet on Mon Jan 09, 2012 6:23 pm
If the shares did not form part of the company's ordinary share capital then this loss can only be used against gains of the same year or carried forward, not set against income. Section 151(1) ITA 2007.
http://www.legislation.gov.uk/ukpga/2007/3/section/151
http://www.legislation.gov.uk/ukpga/2007/3/section/151
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2 posts • Page 1 of 1
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