Hi,
I am a sole trader IT contractor. I bought shares with profits from the company, which has since decreased in value. Can I write off the decreased amount against my taxable income? Can I write off other costs involved in the purchase of the shares eg stamp duty etc? I also bought shares before one year before the company was created, which have also lost value, can these be similarly written off?
I will of course ask my accountant, I just wanted to get some background information first,
thanks,
Brian
I am a sole trader IT contractor. I bought shares with profits from the company, which has since decreased in value. Can I write off the decreased amount against my taxable income? Can I write off other costs involved in the purchase of the shares eg stamp duty etc? I also bought shares before one year before the company was created, which have also lost value, can these be similarly written off?
I will of course ask my accountant, I just wanted to get some background information first,
thanks,
Brian