kevin mcbride

thank you. It's a shame that HMRC won't clarify this point!

Thank you Clive, that's what I thought - but what about individual capital gains from different share sales. Up to now I have been rounding down receipts for each gain, which I assume is OK?

so does that mean that each dividend payment can be rounded down?

Please help about the rules for rounding out pence. I understand that the general rule is round down receipts and round up costs, but at what stage in the process is this applied? Do I for example apply it to individual proceeds/costs for sale of each share, or only after the proceeds for all sales are added up? And how about dividends or interest payments? It seems odd that it is so hard to get information.

I'm afraid that this does not answer my question, which was why I posted it!

If I invest in an EIS company which fails and I want to set this loss against income, what happens if I have no, or not enough, income tax liability in that year, possibly as a result of other EIS investments?

Hello. I too have often wondered why they don't explain what an 'election' is! As I now understand it, (and I am very much NOT an expert) a claim is the usual procedure for the sort of thing which you describe, where you are talking about specific amounts of money to be set against tax, for example. An election is a statement which alters the basis on which the tax calculation is made, for example you might elect to be treated as non- domicile, or something like that.

I want to calculate if I have enough income tax liability to get full relief for EIS. Calculating income tax is easy enough but I wonder if I am supposed to subtract 25% of my Gift aid payments from the final figure, as this amount is presumably removed from my tax payments?

Yes, thanks, but that is my point. How do I notify you of which losses to carry forward, unless I amend the previous year's return?

Thank you. Will you notify me of the losses available to carry forward? And please confirm that I do not have to amend my previous year tax return.