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Posted Sun, 13 Oct 2024 09:39:19 GMT by Chiu Amy
Hi, If my chargeable assets were less than £50,000 and my chargeable gains before taking off any losses were less than the annual exempt amount (i.e. £6,000 for tax year 2023/24), but I would like to report my capital loss for claiming a CGT tax reduction in tax year 2024/25. My questions are: - 1. Do I still need to complete the SA108 for tax year 2023/24? If so, do I need to report all the disposals during the tax year? 2. If answer to 1 above is negative, how can I report my capital loss and claim any CGT tax reduction in tax year 2024/25? Many thanks.
Posted Tue, 22 Oct 2024 08:51:37 GMT by HMRC Admin 19 Response
Hi,
As in year losses must be used first against any gains, even if it means you lose out on the annual exempt amount, then yes, you would report this on a SA108.
Thank you. 

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