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i can claim all the remaining outlay (50% not already claimed) as loss against income tax?
yes
Meaning i'd have claimed 100% of my original investment back? That seems unlikely.
no. the loss goes against your gross income, so your taxable income shrinks by the value of the loss. so you don't pay tax on that £500. if you're a higher rate taxpayer, you save 40% of the £500 (£200).
hamster
@Soul
@rive_gauche
So, if i'm reading that correctly, i can claim all the remaining outlay (50% not already claimed) as loss against income tax?
Meaning i'd have claimed 100% of my original investment back? That seems unlikely.