Loss Relief on EIS shares for acquired company?

I subscribed for EIS shares in a company that has recently been acquired by an AIM-listed company, which issued new shares in exchange. The value of the new shares is significantly below the cost of the EIS shares at the time they were issued. I have now crystallized the loss by selling the shares. Can I claim EIS Loss Relief for EIS shares held by me for more than 3 years before the acquisition? (or can I only claim a CGT Loss?)

Hi,

When an EIS company is taken over, the acquiring company may issue its own shares in exchange for the original shares; that is the shares which have attracted EIS income tax relief. This is a disposal of the original shares for CGT purposes even though new shares are issued in exchange. Eligibility for Share Loss Relief in respect of the new shares when they are disposed of is dependent on various factors.

Please refer to guidance below to review the specifics of their scenario to whether they meet relevant qualifying criteria.

VCM74000 - Share Loss Relief: individual and corporate claimants: individual claimants

VCM75360 - Share Loss Relief: individual and corporate claimants: individual claimants: more complex cases: shares received in exchange for other shares in a take-over: conditions for ITA07/S145 and S146 to apply

VCM75390 - Share Loss Relief: individual and corporate claimants: individual claimants: more complex cases: disposals of new shares (general case)

Thank you.