Chargeable loss set off against Income tax

Chargeable Loss relief

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Are there any circumstances in which an individual could set off a Chargeable Loss against his /her  Income tax Liability?

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By FactChecker
30th Dec 2023 15:11

"any circumstances" is a rather broad remit ... could you set out those in which you think/hope this is possible?

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Replying to FactChecker:
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By qhas
31st Dec 2023 09:53

Share Loss Relief

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Replying to qhas:
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By FactChecker
31st Dec 2023 13:40

Right ... so do the particular circumstances (of you/your client) meet the criteria to be considered for Share Loss Relief?
https://www.legislation.gov.uk/ukpga/2007/3/part/4/chapter/6/crossheadin...
That should then answer what is presumed to lie behind your question.

Of course it won't address the "any circumstances" aspect, which was really asking the question 'from the wrong end' (as it's never advisable to start with the required outcome and work backwards unless you're an experienced tax adviser / planner ... and should never be done where it requires the fact to be changed after the event - aka re-writing history).

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JCACE
By jcace
30th Dec 2023 16:35

Yes, but it would depend on the nature of the assets and the circumstances of the loss... fairly restricted

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By Wanderer
30th Dec 2023 17:48
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By nrw2
30th Dec 2023 18:47

Multiple, including share loss relief.

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