dissolving a UK LLP

Hello. I contributed to a UK-based LLP to pursue a business idea, which involved setting up a company of which the LLP was a shareholder. The company did not succeed and has been wound up for no value. We are now in the process of striking off the LLP. Am I right that my contribution to the LLP should be seen like any other asset, i.e. as a capital loss to put against CGT?

Hi
You would need to declare your share of the company as negligible value claim (NVC), which if agreed, can be considered a loss and set against other gains.  You would either submit a NVC claim in writing to H.M. Revenue and Customs Self Assessment BX9 1AS , toghether with supporing evidence or in your self assessment tax return for the tax year in which the business ceased.