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CGT on US SAFE Agreement funds that appear to be lost

Answer
APeng1
Posted Tue, 10 Dec 2024 13:17:42 GMT by APeng1
Hello - I am a UK tax payer. Between 2017 and 2018 made 5 different contributions to a US-based tech company using the Y-Combinator SAFE agreement - no SEIS/EIS applied, and this is NOT crypto. This company is now "sleeping" according to the founder/only employee. However it appears the funds are all spent and this company is no longer a viable entity (for example, the only employee is now the CEO/CTO of another firm). What evidence do I need to provide to HMRC to show this is a complete capital loss on the speculative investments made?
Answer
HMRC Admin 17 Response
Posted Mon, 16 Dec 2024 13:41:14 GMT by HMRC Admin 17 Response

Hi ,
 
Pleasde have a look at the guidance on negligible value claims at :

 Negligible value claims and agreements  .

Thank you .

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