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Good advice fairdealer. I have done self assessments myself for the purpose of carrying capital losses forward but it isn't straightforward and can open a can of worms. I recommend using an accountant.
I am in the process of rationalising my non-ISA portfolio though, with the capital gains changes, and will be moving a number of my holdings into my ISA in the new tax year. The reduced allowances are a wounder and disuade me from investing in my non-ISA account moving forwards
Thank you Fairdealer.
In response to Jonathan, yes my shares were purchased through Barclays smart investor. Ironic as I don’t feel very ‘smart’ now, just very foolish and stupid.
Again thank you. Wishing everyone the best for all who have lost here.
As long as the shares weren't held in a stocks & shares isa, in which case you can't claim.
A Capital loss can be carried forward year on year and used to offset future Capital Gains. For instance lets say a Loss of £50K is established in year 1 then in year 2 a gain of £20k is established then use the current CGT allowance first and then use the difference up to yr 2 gain with some of the established Loss. i.e 20K - 12300 =£7700 whih can be taken from the yr 1 loss. This then leaves £42300 to carry forward, which can be used in subsequent years to reduce CGT liabilty. Remembering to use the annual allowance first before using the residual loss being carried forward.
Be ware the current CGT allowance is £12300 pa which is being progressively reduced by the Chancelor. For year 23/24 the allowance will be £6000 and for yr 24/25 is £3000.
It is always advisable to consult a qualified expert ( Accountant) who will complete and present a Tax Return. You can complete a return yourself, however in my experience HMRC will readily accept a return from a Registered Professional. Doing a return yourself in such situations could lead to questions from the Tax Inspector which for the unanitiated could be puzzling and then Professional help is needed.
Hope this helps, but always keep an eye on the Gov Website as allowances etc do change more often than the ordinary mortal understands.
Best of luck
hi , does anyone have any insight as to how and when both cfds and shares will be zero as they still showing on both my accounts ?
Thank you to those that have responded and given me some advice. I agree that I have to park this or it will consume me, my dream of retiring early with my husband has gone.
Fair dealer, can you explain further what you mean regarding Capital Gains loss can be carried forward ?
A Capital loss can be carried forward until used against future Gains.
Been in a similar position myself with BOOM, AAA and DEV. I won’t go into all mistakes I’ve made and what I should have done differently other than to say, what’s done is done. You need to compartmentalise the loss, go for a walk, a pint and mentally move on. It will haunt you for a long while but try to focus on your health, family and enjoy the simple things in life. Best of luck and don’t be afraid to reach out
Thinking back the CGT loss I recall was on an unquoted investment not a listed company. It's just possible that an AIM company may fit the criteria of unquoted for tax purposes but not sure on that. Sorry
Sorry to hear of your large loss Bagpuss. Other than legal action, which IMO would be costly and unlikely to succeed, I fear that you have little realistic prospect of recovery. When I was in practice I did manage to convert a large CGT loss into an income tax loss which was set against profits or income subject to income tax but I really don't know if that is still possible. If you know a tax expert it might be worth a quick chat.
360techno it is all part of a well engineered charade. Whether the FCA will investigate is another and interesting question. Not sure they have any legitimate control over a US corporation. There is little doubt Armistice have conducted an exercise with a goal in sight.
Remember the Administrators did state when the Armistice deal was struck, that there had been many interested parties who were eventually counted out as there were unfavourable conditions. It is speculation, but think on this. Oxford loaned 4D funds on which DP and co reneged on the agreement. Oxford pulled the plug and placed 4D in administration. Oxford were subsequently taken over by Armistice and then surprise surprise then act as a Good Samaritan.
The whole scenario stinks and does nothing to encourage private investors to support emerging SME's
I have spent the last 2 to 3 years reading many posts and never putting in any input. I was taken along by the strong belief I could make some decent profit to enable me to retire early and unfortunately have lost £50k of life time savings. Totally devastated and lost for words. I am not an expert by any short means, but just asking the experts out there if there is anything I can do to get some of my money back ? Thank you in advance
Is there some culling of posts going on? there was definitely a post mortem post that's no longer around?
How can shareholders vote be obtained on a premise that has now been invalidated. Is there any input that can be requested/solicited from UK FCA
Sorry to anyone who had decent money in here - I'm sure there will be many. I really thought these guys were going somewhere as well - and not just down the toilet.
I had a couple of g but nothing sleep-depriving. Hope you all get some back elsewhere.
Another one bites the dust.
Further thought, Maybe the FCA will be interested to investigate the various issues surrounding this debache?
Don't hold your breathe as it could be a white wash job!
RP, I tend to beleive Armistice have played a dirty game. They only want quick profits and too heel with ordinary PI's.
It also crosses my cynical mind, has the eventual and most likely plan, been influenced by the Shareholder's action group who now have little room for manoeuvre. SP and co could say, " we did our best and were left at the alter". Just a thought.
The game is up now for SH's, but wait for the Phoenix to emerge???
Absolutely devastated about this. Bought into 4D for what I thought were all the right reasons. Company potentially doing something amazing for awful diseases - particularly cancer, new approach to medicine and of course the hope of potential gain for my family. Banks, Merck, corporate lawyers with 750k invested have all believed the same. None of us are alone in that belief but it makes this no easier to stomach. It was my choice to invest. I can’t blame anyone else for that but I do believe that we have all been part of a very elaborate and planned deception. So many good people investing in a company that they thought wanted to do good things too. It’s just awful. I’m so sorry for everyone here. It will take me a very long time to recover from this and I hope everyone will get through it.
Yep that’s a very likely scenario as they take over the debt of OF after supposedly doing DD & agree to subscribe 15m $ for WC let it all go thru the process of getting it approved and right at the death pull the plug . In the meantime the administrators claiming £650 an hour find this out on the 31st & fail to notify til 15 days later & now say their job is to dispose of the assets racking up more obscene charges & no doubt will be negotiating at fire sale rates but making sure they get paid ,along with Armistice of course . It really does stink now all this .
That's it then. Loss can now be claimed.
Armistice is hedge fund. Fellow US hedge funds have been shorting 4D on smaller level on AIM and probably big level on 23rd March when sp rose to 80p and in US equivalent (over $9). The volume was insane, so it must have been heavily shorted. These HF don't cover shorts easily even if price lowers to great level. So imagine their profit if they don't need to cover at all from 8-9$ to 0$. Armistice could have been persuaded or they played dirty game and never intended to subscribe.
Why has it taken the Adminsistrators until now to advise PI's and the market of a decision made on 31st January?
According to previous statements, it was reasonable to conclude Armistice ( who took over Oxford Finance) would have conducted full due diligence before agreeing the well documented funding in exchange for virtual total control of the Company.
Why did Armistice decide to keep SP and co on board once the agreement had been ratified and approval of the High Court? They (Armistice) would have known Peyton's shortcomings through the dealings with Oxford.
I smell a rat and would not be surprised that Armistice or it's "Friends" pick up the assets of value on the cheap.
Having virtually had the Last Rites, in June, ordinary PI's have been well and truly led up the garden path. In a word Screwed.
In hindsight - totally agree with that Utahsaints.
Pure research facility should be University funded - but I appreciate that UK Unis are underfunded themselves.
How much money has 4d made out of shareholders but was nowhere near to licencing.
A warning to others heavily invested in early stage research pharmas .
Hopefully karma will hunt the BOD down one by one.
Duncan Peyton hope you sleep well at night in Leeds.
Well that’s over 15k down the drain …… massive lessons learnt - let’s hope karma hurts them like it’s hurt us ….