Alizyme Share Discussion Threads

[dunderheed] 26/3/2010 20:20

Well that's bl00dy fantastic - I didn't realise you could and that is very helpful - thanks very much!
I'll speak to my accountant now as had not bothered to bring this up before.

[juju43] 26/3/2010 17:50

yes i did a couple of years ago - no probs

[dunderheed] 26/3/2010 16:14

Actually 3rog - I don't have the time sorry mate bit busy - leaving all my work to be done before the w-end - all I was saying was this was advice I was offered some years ago and many eons ago whan I was studying accountancy exams was also the same then.

It may have changed now - just not to my knowledge - but as you say your accountant has confirmed this hence must be the case?

EDIT has anyone on here actually ever done that ie offset capital share losses against capital property gains?

[3rog] 26/3/2010 16:06

Dunderheed
Have aread here:-

[dunderheed] 26/3/2010 15:57

3rog - really - well that has changed since I tried to do it?!
Sorry to be unbelieving but can you confirm back here whjen the IR has accepted this.
As I will definitely be doing that - if that is the case!!

[3rog] 26/3/2010 15:53

Mikey34
You are correct you can.
Dunderheed
Many thanks for your input. I was not concerned whether or
not I could offset a capital loss on shares against a capital
gain on property, I had already checked with my accountant that
I could. What concerns me is will HMRC allow Alizyme as "neg value"
or is there another way to crystallize the loss as suggested.

[mikey34] 26/3/2010 14:23

3rog,

Like you I thought you could set ANY capital loss against any gain.

[3rog] 26/3/2010 11:34

Dunderhead
No.The sale of property owned as second property.
I was under the impression that you could set any
capital loss against any capital gain.
Mikey34
The administrator saying that shareholders may yet
get something is what worries me in relation to claiming
Alizyme as "neg value". Hence the interest in time_travellers
selling to "no value house".

[mikey34] 26/3/2010 10:46

damien,

I spoke to the administrator a few weeks ago and I got the impression that it was quite complex,would be time consuming,but that it was possible that shareholders might get something.Not much consolation I know but maybe something rather than nothing.....eventually.

[damian] 26/3/2010 10:12

Is AZM really dead and buried.I am afraid the majority of mine were in an ISA wrap,so that is 30k down the pan !.

A hard lesson to learn and it was not the first, and i am sure it will not be the last,

I had hope that the Administraters would be pursuing the Takeda deal,but from the comments here that seems a false hope !.

Good luck to all who invested here and i hope you go on to make up for the loss here,if you have not so far.

[dunderheed] 26/3/2010 09:59

3rog are your properties in share based investment vehicles - because if not you will not be able to offset agaaisnt capital gains?

[3rog] 26/3/2010 09:20

time_traveller.
Thanks for the info. Please explain selling to "no value house".
Never done that. Is that something all brokers are able to do.
I really need the loss. Not because of my fantastic success!! with
shares but because of property sales. Thanks again.

[time_traveller] 25/3/2010 13:04

To be on the safe side, I "sold" them to a 'no value house' via Barclays. I really need the loss for offsetting against other gains.

[time_traveller] 25/3/2010 12:12

Well, Ive phoned the HMRC Shares and Assets Valuation Helpline and its not on the list yet. She said it may not yet have been considered, and I should contact my local inspector.

However, as 3rog says, I think the simplest way will be just to submit it for the 09-10 tax year and I doubt they would challenge it. All inclusion on the list means is that it definitely wouldnt be challenged when submitted.

[dunderheed] 24/3/2010 09:22

3rog - this is what I did previously - as it happenened the company concerned was on the 'list' hence academic - however am interested to see whether it is currently getting accepted for capital losses?

[3rog] 24/3/2010 09:12

time_traveller

How do you make an application other than entering it on your
Tax return as a loss for CGT purposes? The neg value list never
appears up to date to me. I was hoping to use Alizyme as a loss
for my wife to lower her CGT liability. Ran it past my accountant
who said we would just have to submit it and see if they accepted
it. Is there a way to check with HMCR whether or not it's been
accepted before you submit a tax return. Thanks in advance.

[dunderheed] 23/3/2010 17:31

Yeah let me know what happens - cheers mate - I have only had to do one time and it was proper gone by the time I made election anyway!!

[mikey34] 23/3/2010 17:30

time traveller,

I haven't done that yet but as far as I know its perfectly acceptable to do what you propose.....read about that a while ago as a general principle....as you say cgt planning would be impossible with liquidations otherwise.

[time_traveller] 23/3/2010 16:08

My understanding is the company doesnt have to be fully liquidated to be listed as negligible value - the effective dates listed seem to be the delisting dates or the administration dates, both of which are in the 09-10 tax year.

I'll be applying to have it recognised for the 09-10 tax year, because unequivocaly AZM is of effectively zero value to me now. If one had to wait for complete liquidation, then GCT planning would be impossible - I'm sure it doesnt work that way.

I dont expect any problems with this - just wondered if someone else had done the application already.

[dunderheed] 20/3/2010 06:42

This has still a long time to run until it hits that list - probably at least a couple of years?

[time_traveller] 19/3/2010 23:39

Has anyone asked the HMRC to recognise Alizyme as an asset of negligible value? I notice it doesnt appear on their list but its losses are useful for offsetting against gains in the 09-10 tax year (AZM effective date July 09 I would guess)?

It may be their list hasnt been updated - I see nothing more recent than Jan 09 on it.

[mikey34] 08/3/2010 17:33

CWAI,
Hard to know what to say.I spoke to the administrators 3 weeks ago and got the impression the whole thing would take quite a while.I think shareholders will be very lucky to get even 1p a share.....so you'd need to do the maths.

[loafofbread] 24/2/2010 10:28

I spoke to them before year end to ask if Tim had put his hat in the creditors ring to get his 2 year contractual payoff, approx £400K (good pay for wrecking a company)They said they were 'of the opinion' that it wouldn't be paid!

The fact that £5M has found a home makes it look as though they changed their mind.

I was quite looking forward to my 2p payout.