Mark McLaughlin warns that in some cases not only might a business investment be lost, but also any tax relief for the loss.
No rational individual would invest in a business in the hope or expectation of losing their money. However, despite the best of intentions, the business may still fail.
It might be possible to at least salvage some tax relief. For example, loss relief may be available for income tax purposes where the individual’s shares have become worthless, if certain conditions are satisfied, such as where enterprise investment relief is attributable to the shares, or where the shares are in a ‘qualifying trading company’ and have been subscribed for
