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HMRC internal manual

Capital Gains Manual

Losses: investment in unsuccessful trading companies

ITA07/S131 to S151, CTA10/S68 to S90

Capital losses are not normally set off against profits or income. The exception is allowable losses incurred by

  • an individual, or
  • an investment company

on certain disposals of unlisted shares in trading companies, provided the disposer was also the original subscriber, see VCM70000+.