Anyone know if these are tax deductible in the UK?
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Stock Market Losses
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Originally posted by ace00 View PostAnyone know if these are tax deductible in the UK?
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Yes, against capital gains, you can offset a realized loss for up to 7 years after the event. For example, sell a property on which you've made profit, and then offset your stock market losses.
I believe it should be possible to close your company down, take the bulk as a capital distribution, and offset any stock market losses against this. Not 100% sure on this as I haven't done it myself, but it sounds plausible.Comment
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Wouldn't that only apply if the shares were bought as company assets though?
I was under the impression (possibly naively since I'm rather risk averse when it comes to tax planning) that you could only offset losses that were directly business related.Comment
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Originally posted by TykeMerc View PostWouldn't that only apply if the shares were bought as company assets though?
I was under the impression (possibly naively since I'm rather risk averse when it comes to tax planning) that you could only offset losses that were directly business related.Comment
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Originally posted by TykeMerc View PostWouldn't that only apply if the shares were bought as company assets though?
I was under the impression (possibly naively since I'm rather risk averse when it comes to tax planning) that you could only offset losses that were directly business related.
So, since the distribution is a personal capital gain, you should be able to write off any capital losses against it.
I'm not an accountant, but I believe this is the way it works.Comment
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