RE: Originally bought in ISA4 Mar 2026 09:59
AI disagrees: 'You can usually claim a capital gains tax loss on delisted shares via a “negligible value” claim, but the loss is not set against income tax; it is set against current or future capital gains, and there are conditions to meet.
1. Basic principle
Delisting or going private does not, by itself, create a tax loss; for CGT you need either a disposal or a successful negligible value claim that deems a disposal at nil.
A negligible value claim lets you treat the shares as if sold for nothing on a chosen date, crystallising a capital loss you can use against gains in that year or carry forward.
2. Negligible value claim on delisted shares
HMRC accepts negligible value claims where you can show the shares are “worth almost nothing” and essentially unmarketable, for example because the company is insolvent or effectively defunct.
For unquoted shares, HMRC guidance says they may accept negligible value if, at the claim date, the company has ceased trading, is insolvent and has no assets, or is in liquidation with no prospect of shareholders getting anything back.
There is an HMRC list of quoted companies already agreed as of negligible value; if Frontera Resources appears on that list for a date when you still held the shares, that simplifies the claim, though you must still make the claim yourself.
3. How to claim in practice
If your conditions are met, you claim negligible value in your Self Assessment return (capital gains pages), specifying the company name, number of shares, date of deemed disposal, and value (usually nil), or you write to HMRC if you are otherwise outside Self Assessment.
The capital loss you crystallise can then be set against other chargeable gains in the same year or carried forward to future years; it is not normally offset against income tax unless you meet specific “share loss relief” rules for certain qualifying new issues in unlisted trading companies.
4. ISA angle in your case
While the shares were inside the ISA, gains and losses are ignored for tax; when they were transferred out into a standard trading account, that does not in itself create a taxable gain or an allowable loss.
From the point they sat in your standard account, if they are now of negligible value you focus only on that outside‑ISA holding for a negligible value claim and resulting CGT loss.
5. What you should do next
Confirm the current status of Frontera Resources (liquidation, insolvency, ceased trading) and check whether HMRC has it on the negligible value list for any relevant date.
If the facts support it, make a negligible value claim for the holding now in your standard account so the loss is crystallised and can be used against capital gains.'
I think OneDayRodney and a couple of others have done this so maybe they can respond if they are still reading the board.
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