Oxtailsoup

Just bumping this back up the list because I think the post was delayed from being public until it had been moderated. Any answers? Thank you!

I’m confused as to which marginal tax rate would apply in this scenario below for loss relief against income tax. I sell some SEIS shares for a loss now in tax year 24-25. After April 5th 2025 I fill in my self assessment. I claim for the SEIS loss against my income in the previous tax year 23-24. This is because in 23-24 I earned a significant salary on PAYE resulting in significant tax paid at 45% marginal tax rate. In 24-25 tax year I will not be employed due to a medical condition and thus lower marginal rate of tax likely to be 20%. My question is, if I am claiming the loss relief against the previous tax year where I had paid plenty of tax to cover it and my marginal rate was 45%, what marginal rate will the loss relief against income be based on? Will it be 45% as that was my rate for the 23-24 tax year, or will it be 20% for the 24-25 tax year that i sold the shares in? There are lots of examples online on how to calculate the relief amount based on your marginal tax rate but no examples that explain which marginal tax rate is used when claiming relief against the previous year and in my case these are two very different tax rates. Thank you

Not sure if this is best in this forum or the self assessment forum. We are a married couple. We have had a share trading account in my name but use this account to trade for both of us. We split the annual profit or loss on each of our self assessments 50/50 on the basis that all our assets are held in common. We have always done this and it has always been a 50/50 split including dividends. Profits are transferred to a joint bank account. Is this ok? I know that we could set up a joint trading account. Thank you.