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SELLING QUOTA AND CGT

keep going · 2014-04-18 14:42:28

A person who sells their quota has to pay CGT so why is not possible to claim losses on quota you bought that has been abolished.eg if you had spent 10000 on quota its now worthless so can allow for that loss against other gains for example if you sold your entitlements. Any opinions

18-04-2014 2:42pm

#1

keep going

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Join Date: January 2011

Posts: 3415

A person who sells their quota has to pay CGT so why is not possible to claim losses on quota you bought that has been abolished.eg if you had spent 10000 on quota its now worthless so can allow for that loss against other gains for example if you sold your entitlements. Any opinions

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Comments

#2 18-04-2014 2:48pm

Alan Shore

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Have you not already received relief by claiming capital allowances on milk quota?

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#3 18-04-2014 5:21pm

RightTurnClyde

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If you bought it, your accountant should have written it off over the last number of years. Was done here, on my accounts all quota is basically valueless by next year.

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