VCM45050 - VC loss relief: general: claims under ICTA88/S574

Where certain conditions are met ICTA88/S574 permits individuals who have allowable losses on disposals of shares in unquoted companies to claim the losses against their income rather than against CG.

In order to decide whether or not relief can be given on a claim by an individual under ICTA88/S574 you will need to consider whether the:

• shares qualify, see VCM45100 onwards,
• disposal qualifies see, VCM45800 onwards.

Guidance on the computation and allowance of the loss, if the above conditions are met, is given as follows:

• the amount eligible for relief, see VCM46000 onwards,
• allowance of the loss, see VCM46300 onwards.

Different conditions apply to shares issued prior to 6 April 1998 and those that are issued on or after that date. The guidance describe both the conditions that applied to shares issued pre 6 April 1998 and those that apply to later issues.