SEIS/EIS loss relief if a company is liquidated

In which tax years SEIS loss relief can be claimed, If the company was dissolved in June 2023? Can the SEIS loss relief be claimed in 2021/2022 and 2022/2023?

The application to strike the company off the register was made in February 2023. Can the SEIS loss relief be claimed in 2021/2022 and 2022/2023?

Hi
Yes it can.

Hi AnetaE,

Yes it can.

Thank you.

 

Hi when SEIS loss relief is claimed against a prior year return, how/when do we receive the newly created refund/credit? December 2023 - Liquidation occurs 1. If I still have to file my 2023 taxes, can I simply put the losses against 2023 income, ie 2023 tax year such that the refund is automatically calculated online and subsequently paid, ie SA108 Box 41? 2. If I file in the year the loss occurred, ie 2024, and enter in Box 43, when/how do I get refunded the amount based on my 'new' tax liability for 2023 - reduced because of the loss relief. Thanks

Hi,

You can see guidance here:

Negligible value claims and Income Tax losses on disposal of shares (Self Assessment helpsheet HS286)

Thank you.

Thanks - do you have anything more specific?

Hi, So I am about to send a company I have invested in a winding up notice and for the to appoint administrator to conduct liquidation. Will this in any way effect my or any other shareholders SEIS loss relief?

Hi baggervance,
Please have a look at the guidance at HS393 (Seed Enterprise Investment Scheme — Income Tax and Capital Gains Tax reliefs (Self Assessment helpsheet HS393)) and CG21500P - Individuals: losses: contents. regarding losses.
Thank you.

Hi Tim,
You could look to claim negligable value in repsect of your investment - see:
Negligible value claims and Income Tax losses on disposal of shares (Self Assessment helpsheet HS286)
Thank you.

Thanks - I understand and have looked thru the links you have posted, ie the one below. But what is still unclear is how the loss relief for a prior year is (2023 in 2024's filing) paid out. How is 2023's income tax owed recalculated? https://www.gov.uk/government/publications/negligible-value-claims-and-income-tax-losses-on-disposals-of-shares-you-have-subscribed-for-in-qualifying-trading-companies-hs286-self-assessment-he/hs286-negligible-value-claims-and-income-tax-losses-on-disposals-of-shares-you-have-subscribed-for-in-qualifying-trading-companies-2024#how-the-relief-is-given

Ok now I see that I need to claim the difference in the prior year tax liability and this will net off my current tax year liability. Do I need to provide any supporting evidence or explanation of this difference in tax owed prior year? • enter the difference, that’s the decrease in tax due, in box 15 on page TC 2 of the SA110 Tax calculation summary (2023) pages From, https://www.gov.uk/government/publications/negligible-value-claims-and-income-tax-losses-on-disposals-of-shares-you-have-subscribed-for-in-qualifying-trading-companies-hs286-self-assessment-he/hs286-negligible-value-claims-and-income-tax-losses-on-disposals-of-shares-you-have-subscribed-for-in-qualifying-trading-companies-2024#how-the-relief-is-given

Hi,

You would make the claim in a tax return for any refund to be issued. If you do not need to do a tax return, you would send your claim in writing to:

HMRC PAYE & Self Assessment
BX9 1AS

In regards to your second post, you would provide details of the company and amount invested and the date the company was liquidated.

Thank you.