Offsetting Share losses

I have a number of shares I plan to sell this tax year, some of which will result in a gain, and some a loss. For my CGT liability, can the losses be offset against the gains so that the net position is my CGT liability? e.g. I sell shares with a gain of £7k, both others have a loss of £2k. Would this result in my overall CGT liability being £5k? Or must the losses be offset in another way?

Hi
Any capital losses in a tax year must be set off against any capital gain in the same year even if this means you lose your annual exemption for capital gains.
Any balance of a loss can then be carried forward.

Hi, I would like to know this situation , can i carry the capital loss to next year tax (23-24) Case : (year 22-23 Tax) Capital Gain : 5000 pounds Capital loss : 1000 pounds Since this year capital gain allowance is 12300 , i still have 7000 pounds as remaining allowance and but still not use captial loss (-1000) . Would it be possible to transfer 1000 pounds capital loss to next year reported in SA108 ? Thanks

Hi,

Yes, you can carry forward your 2022/23 capital loss to 2023/24 by entering the appropriate details in the capital gains pages, SA108. You can see guidance here:

Capital Gains Tax: what you pay it on, rates and allowances                                               

Capital Gains Summary notes

Thank you.