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HMRC internal manual

Venture Capital Schemes Manual

EIS: disposal relief: income tax relief for capital losses

ICTA88/S305A and ICTA88/S574

Because losses on the disposal of EIS shares are allowable an investor may be able to set them against their income by making a claim for Share Loss Relief under ITA07/S131. Guidance on Share Loss Relief is at VCM70000 onwards. Shares to which EIS relief is attributable are automatically ‘qualifying shares’ for Share Loss Relief purposes, regardless of whether the owner subscribed for them or whether the company which issued them was a ‘qualifying trading company’. It is nonetheless possible that losses on some EIS shares will not qualify for Share Loss Relief because, for example, the disposal was not such that relief might be available, see VCM74090.