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An investment company (as defined below) which has subscribed for ordinary shares in a qualifying trading company (see below), and which incurs a loss on the disposal of those shares, may claim to set the loss against its income for corporation tax purposes, instead of against its capital gains, provided the company making the disposal¹:

1. Ìý

   •ÌýÌýÌýÌý is an investment company on the date of the disposal of the shares

2. Ìý

   •ÌýÌýÌýÌý has been an investment company for a continuous period of six years ending on the disposal date (or a shorter continuous period ending on the disposal date, provided it has not before the beginning of that period been a trading company or an excluded company), and

3. Ìý

   •ÌýÌýÌýÌý was not associated with, or a member of the same group as, the qualifying trading company at any time during its ownership of the shares

This is also known as 'share loss relief' for companies.

The loss must be an allowable loss for the purposes of corporation tax on chargeable