Negligible Value Claim in Respect of Shares Questions

[curiouslady]

Hi,
Can anyone please advise with regards to a few questions to know if I qualify for negligible value claim in respect of shares against income tax. Any advise/clarity on this very much appreciated.

I bought some shares using my shares ISA in a UK company that traded on NYSE at about $3, but the company filed for chapter 11 and are currently trading under OTC for 0.08cents. Can I claim for a loss for this?
Also not clear on what determines "qualifying trading company." Or can I claim for my loss through any other avenue?

Any advise greatly appreciated.
Thank you.

[bd6759]

An ISA is outside the the scope of CGT. You don’t pay tax on gains, but conversely there is no relief for losses.

[curiouslady]

Thank for your reply bd6759.
So outside CGT relief on losses, is there any other way i can get a relief on this?

Thank you.

[pawncob]

As bd6759 says, there is no relief for ISA losses.