Also interested in this one
Not touching MC products after the Hopstuff pre pac - another of my Crowdcube fails
Ah that’s a shame, just Google’d to see what happened.
Doesn’t sound like it’s MC’s fault though just paid off the debt
True - just smarting a bit after my 5th Crowdcube fail and unable to get the EIS tax relief on Hopstuff as I understand it. Could have been worse, might have taken up their bond offer!
I have also had a few CC fails. But you should be able to claim some loss relief. Take the original investment sum, deduct the original relief and then from what is left work out your effective loss, ie the sum of the latter minus any proceeds you may have got, if any. You should be able to claim whatever is your marginal rate of income tax against that. I have done this for Sugru, Cocoon and the Chapar.
Thanks for that - will check it out as I was also in Sugru but understood that relief was only available if the company had failed or ceased trading (Circuitree) and not been effectively taken over (Sugru, Filmore Union, Hopstuff).
It’s about the value the investor derives and in an administration scenario an investor gets sod all. Of the 3 failed investments I mentioned Sugru was the only one that returned anything and that was just 7%. The attached is written from an accountancy firm to a failed firm wondering about his EIS investors, I found it quite helpful to extrapolate what it meant for the actual investor. HMRC EIS guidance bears it out so in your situation you should be able to mitigate your loss a bit.
Thanks again Lucca; very helpful
Bump for this. On my list to buy for 2020. Currently trading at 0.87 book value and a 3.7% div yield