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Where Taxpayers and Advisers Meet

CGT write off?

mp2016
Posts:26
Joined:Sat Jan 02, 2016 1:14 pm
CGT write off?

Postby mp2016 » Mon Aug 19, 2024 12:59 pm

Hi

I invested in an unlisted (EIS) company about 10 years ago, the company was dissolved in 2019 and I lost off of my investment. I didn't have earnings to offset income tax.

I am about to sell some land i bought in 2006 and there is likely to be a CGT of more than the investment above, is there anyway to write off the investment above against the CGT bill from the land sale?

Thanks in advice

bd6759
Posts:4376
Joined:Sat Feb 01, 2014 3:26 pm

Re: CGT write off?

Postby bd6759 » Mon Aug 19, 2024 10:27 pm

If you did not tell HMRC that you made a loss within 4 years of making the loss, you are too late.

pawncob
Posts:5162
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: CGT write off?

Postby pawncob » Tue Aug 20, 2024 4:32 pm

I've never understood why a deferral relief claim can be made up to 5 years later, but a loss claim is limited to 4 years.
With a pinch of salt take what I say, but don't exceed your RDA


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