Negligble Values Claims (NVC) - how long do they last?

[yorkshirepsychologist]

Hi everyone,

New to this forum and not totally savvy on the whole tax/income world yet!

Basically I have a share portfolio which hasn't done very well, and also tax year I made a NVC for around 7k. This tax year, I need to make another for the value of around 4k.

My question is this: how long does the NVC 'last'. What I mean by this is how long can I retain the 'usefulness' of this before it is exempt from being used against further claims. Because when I submit m tax return for this year coming I will have a loss of around 11k to 'play with' I guess? Furthermore, how could I offset these claims against income (to presumably pay less tax?) and how do I go about doing this?

Sorry if this is a simple question or I have made it unnecessarily long, but any help/advice would be much appreciated.

[pawncob]

The normal claim time limit applies, but the quantified loss is carried forward indefinitely.
https://www.gov.uk/hmrc-internal-manual ... al/cg15813

[LozaACCS]

There is no restriction on when a NVC must be made but once it is triggered (by making the claim) then the loss must be utilised against the first available gains, in the first year of the claim in full against current year gains, in future years only to the extent that the Annual Exemption is not wasted.
Income tax relief is not normally available against capital losses, if however the shares qualified under the Enterprise Investment Scheme then relief is allowed against total income (S131 ITA 2007), the claim for the earlier period cannot be made after 31/01/17