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Posted Sun, 17 Sep 2023 20:25:05 GMT by Hachin32
Hi, I have recently sold land that had made a gain in March 2023 then following this sold a residential property in August 2023 at a loss. Can i use the loss from August 2023 to off set my gain in March?. I have been told it has to be in the same tax year but what use is this loss for me, or can i claim it against the land that made a profit in the following tax year 2023 to 2024 if i am a non resident? Thank you.
Posted Wed, 27 Sep 2023 10:03:05 GMT by HMRC Admin 10 Response
Hi
No you cannot claim this as it is 2 different years.
The loss for 23/24 year will then be carried forward until you make any further capital gain or be used in 23/24 if you sell another asset that results in a gain .

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