Part 4Loss relief

Chapter 6Losses on disposal of shares

Share loss relief against general income

132Entitlement to claim

1

An individual who is eligible for share loss relief may make a claim for the loss to be deducted in calculating the individual's net income—

a

for the year of the loss,

b

for the previous tax year, or

c

for both tax years.

(See Step 2 of the calculation in section 23.)

2

If the claim is made in relation to both tax years, the claim must specify the year for which a deduction is to be made first.

3

Otherwise the claim must specify either the year of the loss or the previous tax year.

4

The claim must be made on or before the first anniversary of the normal self-assessment filing date for the year of the loss.