Foreign loss - reporting obligation

Q1) I have sold some foreign investments in the EU with capital loss. Many years ago I had used the remittance basis and did not make a foreign loss election. I am using the arising basis now but do I understand correctly that I can still not use those losses to offset potential UK gains? (In case it matters those EU assets are clean funds). Q2) Could I use those losses to offset potential foreign (US) capital gains (these are all clean funds and remitted to the UK)? Q3) The proceeds of the above EU sale that resulted in losses were more than 50k GBP that is the CGT reporting limit, Do I need to report the foreign transactions? If so how do I do this? (If I report as normal CG loss I want to make sure the form does not erroneously offset any UK gains). thank you in advance

Hi Andy,
Where the remittance basis has been used, and no election was made for losses on disposals of non-UK assets to be allowable losses, foreign losses in future years are not allowable losses and cannot be set against any chargeable gains – unless, in the year that the loss arises, you are domiciled or deemed domiciled in the United Kingdom.
Losses arising on disposals of non-UK assets in a year in which you are domiciled or deemed domiciled are allowable losses.
More information about the effect of domicile on Capital Gains Tax can be found in our Capital Gains Manual at CG25300 onwards.
If the criteria for a disposal to be included in the Capital Gains section are met, but the loss is not an allowable loss, both the proceeds and costs figures can be included in the relevant boxes as usual, but the loss should not be included in the figure of ‘losses in the year’.
An explanation can be provided in the ‘any other information’ box.
CG25300 - Effect of residence and domicile
Thank you.