Timing of EIS loss relief claim

[davidxt]

I have not claimed income tax relief against EIS loss before and am uncertain about timing.

I made two EIS investments and received Income Tax relief in 16-17 tax year. Both were sold in Jan 20 at a losses that exceeded the reliefs given. I now wish to claim Income Tax relief against the net losses, believing them to qualify as allowable.

Investment No1 will be entered as a loss on my 19-20 Self Assessment online form, Capital Gains section, claiming relief against 19-20 income. That seems straightforward.

I want to use the loss on investment no2 against future income. HS286 says that:
The relief has to be claimed within 1 year of 31 January following the year in which the loss occurred. An allowable loss made in 2019 to 2020 therefore has to be claimed on or before 31 January 2022 to set loss from the share disposal against income. I take this to mean that an allowable EIS loss in Jan20 is available to set against income made in 19-20 or 20-21 and possibly in 21-22.

My desire is to set this loss incurred in Jan 20 against income in 20-21. My first uncertainty is whether to enter anything about it on the 19-20 SA form. I could
-start a new computation sheet and show the loss without claiming any relief, then claim the relief later
-say nothing now and enter both the loss and the claim for relief when I do my 20-21 SA form about this time next year (ie Jun21)
Otherwise expressed: to claim loss relief against income in 20-21 for a loss in Jan 20, do i need to do anything at all on my 19-20 SA forms?

Secondarily, I wonder if the possibility exists to get income tax relief for income in 21-22. If I waited until after 6 April 22, when I knew my actual 21-22 income, I would have exceeded the 31 Jan 22 deadline for claiming against the loss. So I can only think to submit an SA108 separately, some time between 6 April 21 and 31 Jan 22, on which the investment loss dated Jan20 is shown, and claiming it against forecast 21-22 income.

Any help gratefully received.

[bd6759]

The HA286 tells you

“If you make an allowable loss in 2019 to 2020 you can claim the relief for 2019 to 2020 or 2018 to 2019 or both.”

The loss is made when you dispose of the shares.

If the disposal is a disposal of a qualifying asset you can set the loss against income arising in 2018-19 and/or 2019-20. You cannot carry the relief forward to set against future income.