CGT loss on ex-ISA shares

Hi, In my ISA I have shares in an LSEG-listed company which is going into receivership. My ISA company (HL) instructs that my holding must be ejected from the ISA into a taxable trading account. I expect a loss of >90%. My question is, can I assert this loss in my self assessment tax return for taxable Capital Gains? My understanding is that that losses wholely within an ISA are not relevant for CGT purposes. To be clear: the purchase was inside an ISA. Any sale, liquidation or return of money will be outside the ISA. Thanks, mrflibble 

Hi mrflibble,
Shares in an ISA are not subject to capital gains tax or capital gains losses.
If your shares are in the ISA at the time the company goes into receivership, you cannot claim for any losses on the shares.
Your ISA provider is advising that you remove the shares from the ISA, so that they are subject to capital gains and you can claim for capital gains losses.
Thank you. 
 

Hi Admin25, Thank you for your help. As I will be base my DIY tax return on your help, can I check that I have the correct understanding of these aspects - 1. Gains or losses *within* an ISA do not affect my Capital Gain Tax status in any way. 2. If an asset is purchased in an ISA and transferred intact to a taxable trading account, losses (or gains) from the taxable sale *do* affect my CGT status in the tax year of the sale. 3. When the asset has gone into receivership, the exact timings of that compared to the transfer out of ISA are important. Since I have no control of the asset in my original question, I will have to ask again when I have all the info. Thanks again, m

Hi mrflibble

1. Gains/losses from an ISA are not taxable or allowable as losses to set against other gains.  
2. yes as the protection of an ISA no longer applies  
3. noted

Thank you

Hi again (after a delay), I realise there is a complication which I do not know how to calculate. Please can I check some further statements for correctness? Suppose I have bought three batches of shares in company C, a. in my SIPP at price CS + b. in my ISA with one ISA supplier, n1 shares at price C1 + c. in another ISA with a different ISA supplier, n2 shares at price C2 and then I transfer the n1*C1 purchase batch outside the ISA, into a taxable trade account, and sell for a loss. 1. I can ignore the SIPP purchase at CS, because I am not yet able to withdraw from the SIPP in any way 2. the cost of each share sold is (n1 * C1 + n2 * C2) / (n1 + n2), ie. the presence of C2 shares affects the cost of C1 3. the cost of each share sold is only C1, ie. the presence of C2 or CS shares should be ignored Thanks for your help, m

Hi,
This forum is for general queries only and is intended to help you self-serve. We are unable to provide specific advice tailored to individual circumstances.
You may wish to contact our team for advice
Self Assessment: general enquiries
Alternatively you may want to seek professional advice.
Thank you.