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DAVID BERTRAM looks at tax relief available for investment losses
KEY POINTS
- Share loss relief is only available on arm's length transactions.
- Non-enterprise investment scheme shares can qualify for relief.
- Relief may be restricted if qualifying shares are part of a mixed holding.
- Obtaining tax relief on a loss may assuage the pain of a bad investment.
Over the last few years there have been many opportunities to invest in new ventures and the various tax breaks available such as the enterprise investment scheme (EIS) the venture capital trust scheme (VCT) and the corporate venturing scheme (VCS) have actively encouraged this.
However in the current economic climate many clients may be asking whether buying shares in that start up company with what seemed like a first rate product and a golden future was such a good idea after all.
So the question is likely...
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