SA108: How to add EIS/SEIS loss relief

SA108: How to add EIS/SEIS loss relief

1. Click '+ NEW PAGE' and then select 'Capital Gains (SA108)' from the list of sources of income




 

2. Click '+ GAIN' and then select 'Unlisted shares and securities' from the drop-down list of categories.

 


 

3. Under the 'SALE' tab, enter the price you sold your asset(s) for and the date in which you sold them. Along with this, fill in the boxes below if they apply to you. In this example, the sale price has been set at £2000. In the box (located at the bottom of the page) titled 'Description', type 'EIS/SEIS Loss'

 


 

4. Click on the 'PURCHASE' tab, then enter the date you bought the asset(s) and the 'Effective cost'. Similar to the previous step, fill in the boxes below if they apply to you

Effective cost = original investment less income tax relief claimed (up to 30% EIS or 50% SEIS). Seek advice if you are unsure.


 

5. In this example, the original purchase price has been set at £5000 (Full investment £7,142.85 less 30% EIS Income tax claim £2,142.85). Due to the asset(s) selling for £2000, this has resulted in a £3000 loss

 


 

6. Click 'SAVE'

 


 

7. Click on '+ GAIN'

 


 

8. In the drop-down list, select 'EIS + SEIS Relief'

 


 

9. If you are offsetting against your current year income, fill in 'BOX 41' and 'BOX 42'. If you are making a loss claim against your previous year income, fill in 'BOX 43' and 'BOX 44'

 


 

10. In this example, I have offset against my current year income. I have therefore entered the £3000 loss, as mentioned from before.

 


 

11. Click 'SAVE'

 


 

 

12. You will now see a reduction in your tax due. In this example, the tax amount due has reduced from £2834.00 to £2234.00.

 

 


 


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