Although a gain on a disposal of SEIS shares after the end of the relevant period (see E3.880) is exempt from capital gains tax, relief is not refused for a loss on such a disposal1.
The treatment of the loss is detailed below:
| Circumstance of disposal | Commentary |
| The disposal of SEIS shares is to an unconnected person | The allowable loss on the SEIS shares can be set against the individual's chargeable gains in the year of disposal or in subsequent years2. |
| The disposal of SEIS shares is to a connected person. | The loss on disposal can only be set against a gain on a transaction with the same connected person3. |
| The disposal |
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