Can you make a negligible value claim for unquoted shares? 

You can make a claim by giving evidence to HMRC that shows your assets no longer have any value since you acquired them. 

If your claim is successful, you can realise a loss to reduce your Capital Gains Tax (CGT) liability. 

‘Negligible value’ generally applies to assets that have become worth almost nothing while someone has owned them. 

It is important to remember assets cannot have been of negligible value when you acquired them, only while you have owned them. 

How can I make a claim? 

Making a claim requires you to evidence that your assets no longer have any value. 

You can make a claim by either: 

  • Writing to your tax office 
  • Entering a negligible value on your tax return 

If you make a claim for company shares and securities, this is what you need to know. 

Is the company in liquidation or receivership? 

If yes, you will need to give: 

  • A statement of affairs for the company and any subsidiaries 
  • A letter from the liquidator or receiver showing whether any return will be made to the shareholders 
  • Details of how this decision was reached 
  • Any evidence that no recovery or rescue of the company is likely  

If the company is not in liquidation or receivership, you will need to give full and comprehensive information that shows that the shares or securities have become of negligible value. 

Negligible value agreements and claims for previously quoted companies 

HMRC publish a list of shares and securities in companies that were previously quoted on the London Stock Exchange and that were accepted as being of negligible value. 

This is useful to use so you can see what shares have been declared as being worth negligible value up to and including 29 February 2024. 

You do need to know that you will still have to submit your claim to HMRC if you own shares or securities for a company shown on the list. 

It is important to remember that a list is not published for: 

  • Unquoted companies 
  • Companies formerly quoted on the Alternative Investment Market and PLUS Market 
  • Non-UK companies 

But how can you check if your shares or securities were quoted on the London Stock Exchange? 

You need to select the first letter of the company name in the Negligible Value Agreement list index. 

In the list, there are three columns: 

  1. Security 
  1. Effective date 
  1. Dissolved date 

Security represents the ownership interest held by shareholders in a company, realised in the form of publicly traded stock or shares which includes ordinary shares and preferred stock. 

Effective date is the date that an agreement or transaction becomes binding – this is the date (or length of time) on which a claim to Negligible Value on the shown security is valid. 

Dissolved date is the date the company ceased to legally exist. 

You cannot make a negligible value claim on or after the date the company has been dissolved. 

To see the full list, please click here

You need to understand negligible value and how to make a claim as this will help to significantly lower your CGT liability. 

To find out more about how you can make a negligible value claim, get in touch with a member of our team today. 

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