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Capital loss offset other incomes

Posted Thu, 26 Oct 2023 23:55:17 GMT by
Hi HMRC Admin, I became UK resident on 1 Aug 2022. I sold several mutual funds(acquired in Oct and Nov 2021) in Sep 2022 and experienced capital loss. Can I know if I can use this capital loss to offset my other income like rental income and employment income? And what forms should I use? Many thanks! Best wishes, TC
HMRC Admin 25 Response
Posted Wed, 01 Nov 2023 07:38:12 GMT by HMRC Admin 25 Response
Hi TC_UK,
Capital gains losses, cannot be set against income arising in the tax year, except where they arise from unlisted shares and securities, in certain circumstances.
See box 41 of SA106 notes form more information.
Capital Gains Tax summary notes
In general, capital gains losses can only be carried forward and set against a future capital gain.
Thank you, 
 

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