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Posted Thu, 27 Jan 2022 09:34:44 GMT by ilnomis
Hi, I made some gains from selling shares in 2017/18 tax year (around £3,300), as well as making a loss from selling another share in the same tax year (around £1,100). Given that the gain (and net gain) is well within the personal allowance and that the total sale is well below 4 x the allowance I did not report it in 2017/18 tax year. Fast forward to 2021/2022 tax year, I managed to made a gain that is above the personal allowance rate. 1: Am I correct to say that I can still report my 2017/18 loss for the 2021/22 tax year? (As it's still within the 4 year deferral time frame.) 2: I can report it come 6th April 2022? 3: In order to report the 2017/18 loss, would I need to report those 2017/18 gains even though, like I said before, they were within the personal allowance and so n reporting was required at the time? Thank you
Posted Thu, 27 Jan 2022 16:03:23 GMT by HMRC Admin 2

If you are looking to utilise the loss from the 17/18 year in your 20/21 return, you would still need to report it within the 4 year period.

You can go ahead and use this in the meantime as long as you then report the loss. 

Thank you.
Posted Thu, 27 Jan 2022 16:09:02 GMT by ilnomis
Hi, So do I need to report the gains in 2017/18 (even though it's well within my personal allowance) in order to utilise the loss from the same tax year? Thanks
Posted Fri, 28 Jan 2022 13:41:01 GMT by HMRC Admin 19

You would need to tell us of the gains.

You can utilise these just now on the basis you are going to report the losses from 2017-18.

Thank you.

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