Suspended animation

22 August 2008 [0 comments]

Q: 

I currently hold shares in an AIM-listed company and was about to sell these to realise losses (to offset against gains elsewhere), but the shares have since been suspended and I think the company is now in administration.
The current value based on the suspended price is around £1,400, and the realised losses based on that value would be around £12,000.
The losses are more valuable to me at the moment than the actual value of the shares themselves, and I need those available by the end of this tax year. I assume it’s not possible to roll gains forward?
Is there any way that I can now realise these losses given that I cannot sell the shares? I am wondering if gifting them might be a way of releasing the losses?  I’m thinking perhaps either to my brother (but am not sure what tax implications this might have for him) or to charity (and whether I could then claim tax relief on the value gifted)?
Is any of this possible, or are there any better alternative routes? Any advice would be very much appreciated.
Mrs K Hall
Kent

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