Offsetting capital gains loss problem

S

southkeryman

Guest
A number of years back I purchased a number of shares in a "high risk" investment. I knew at the time that the shares were high risk. The shares are now practically worthless (I am not looking for sympathy here as I knew what I was doing and the risks involved). My problem now is that I never received a share cert, broker is no longer in business. How can I go about setting this loss off against other capital gains I have made in light of the fact that I cant sell the share to "crystalise" the loss ?

Any comments appreciated.

Southkeryman
 
if you are a client of Morroghs in Cork, then you could write to the liquidator asking for a print out of your account and work from that.
 
Try contacting the liquidator of the company you invested in for a verification of your name on the share register, which should include the date you were added.
 
Hello Ravima, Chris

Thanks for the replies, I am not or was never a client of Morroghs, I bought the shares through a German broker (at the time I got a D&B carried out on the brokerage firm, and made some enquiries about the firm, all came up positive). The firm has since changed hands twice, the whole thing is a mess, from reading information on other UK bulletin boards since it hass emerged that the firm was not as "clean" as it initially looked.

Attempts to contact the firm have proved useless, I have all correspondences showing the share being held in a nominee account, the number of shares purchased and the purchase price etc, My question is what do I have to furnish to the revenue office to prove this loss and use it to offset other gains or what exactly are the requirements here.

I intend to contact the revenue office on this but the more info I have in advance the better.

Southkerryman
 
You must log in or register to reply here.
Back
Top