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HMRC internal manual

Venture Capital Schemes Manual

Seed Enterprise Investment Scheme (SEIS): SEIS disposal relief: losses

TCGA92/S150E (1) and (3)

An investor can claim a loss on the disposal of SEIS shares even if

  • the Income Tax relief is not withdrawn and
  • were a gain to accrue instead, that gain would not be a chargeable gain.

Where a loss arises it must be reduced by the amount of any Income Tax relief which remains attributable to the shares sold.

The examples at VCM40110 and VCM40120 show how allowable losses are reduced to take account of Income Tax relief.