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  • EIS3 Form by post vs Self assessment

    Hi, I don't habitually file a tax return as all of my tax is paid at source through PAYE. I would like to claim EIS relief for 2021-2022 tax year, and initially I thought the only way was filling a Self assessment tax return, so I requested to the HMRC the Self Assessment option to be enabled online in my account. Now I realised it might be possible for me to claim Income tax relief by sending the EIS3 form by post to HMRC. Would that be possible for 2021-2022 tax year or that is only for the current tax year (2022-2023). How should I proceed ? Self assessment tax return or EIS3 forms sent by post ? Thanks
  • How to notify past years losses

    Hi, How can I notify 2020-2021 tax year capital gain losses ? I guess 2020-2021 online Self Assessment is not open anymore, and I don't seem to find any option in 2021-2022 Online Self Assessment to report previous years capital gain losses. Thanks
  • Income Tax Relief for previous years

    Hi, I would like to know how to claim EIS income tax relief for an investment made in 2020-2021 tax year. I'm filling my 2021-2022 Self assessment online and don't see any option to claim tax relief for previous years. Can this be requested online ? Would the tax relief be applied to 2020-2021 income taxes or to 2021-2022 income taxes (as I'm requesting the relief now) ? Thanks
  • RE: EIS Income tax relief and loss relief which happened in previous tax years

    Hi, I had read that before, but didn't find the answer to my question. That's why I asked. I know in some cases relief can be claimed for previous tax years, maybe sending a letter. Also, I think that link you sent doesn't include any information about Capital gains relief, and loss relief. Please could you help with that ? Thanks
  • EIS Income tax relief and loss relief which happened in previous tax years

    Hi team, I have a few questions around EIS income tax relief and loss relief, regarding reporting those for events (investments, losses) which happened in the previous years. I hope you can help me with them: 1 - Can I claim EIS income tax relief for an investment made 2-3 (potentially up to 4/5 ?) years ago as part of a current Self Assessment Tax return ? For example, can I claim, as part of the 2021-2022 Tax Year Self Assessment return, income tax relief for an EIS investment that was made in the 2020-2021 tax year (in case I had NOT submitted a Self Assessment tax return in that year) ? And if so, would the relief be applied to my 2020-2021 income tax, or to the 2021-2022 income tax ? (I know the income tax relief can be applied to the year the investment was made or the previous one, but this is a different case, it would be potentially applying the income tax relief to a later year …) 2 - Similarly, can a loss relief (not necessarily EIS in this case) be claimed 4/5 years after it happened ? If so, can it be done online as part of another tax year Self assessment (in case I had NOT submitted a Self Assessment tax return in that year) ? In case of loss relief claimed against income tax for an EIS investment, would the relief apply to the 4 years ago income tax, or to the current year income tax ? In case of standard capital gain loss claims, are these allowances automatically brought forward to offset future years’ gains (in case there are no gains exceeding the tax-free allowance in the same year) ? (If not, how can this be requested ?) 3 - When it comes to venture capital investments, winding up processes usually may take up to 18 months to complete. Is it better to claim loss relief when the company started the winding up / liquidation process, or later when some more documents may have been produced and may be easier to prove the loss, as a loss relief claim referred to previous tax years ? Many thanks. Best regards,