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Where Taxpayers and Advisers Meet

Claiming loss relief

Oli From Reading
Posts:5
Joined:Sun Aug 29, 2021 3:08 pm
Claiming loss relief

Postby Oli From Reading » Sun Nov 21, 2021 12:39 pm

Can anyone clear this up for me... I have a negligible value claim so I've gone through all the HMRC notes on how to claim, but as far as I can see from paperwork point of view, it's the same process as claiming loss relief where it's all loss.

But I've seen a few references hinting that they're different. For instance, someone said to me:

"...it means you can now claim loss relief (this is only if you haven't done a negligible value claim on these, as you can only do one or the other)."

Am I missing something - is there a significant distinction (benefit) between a partial loss and a complete loss?

Thanks,
Oli

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