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Posted Mon, 23 Dec 2024 11:05:11 GMT by stephen collins
Hi there. I recently made a capital gain from sale of second property and understand i need to report and pay within 60 days. However also in this tax year i incurred a capital loss from an investment in shares in a start up company which wound up also in this tax year. The capital loss incurred from the shares is greater than the capital gain from the second property. Hence net i have made a capital loss for this tax year. Do i still need to report the CGT gain for the property within 60 days? Or do i report both on my tax return for 24-25? thanks for your help
Posted Fri, 10 Jan 2025 12:13:43 GMT by HMRC Admin 20 Response
Hi,
Yes you still need to report it as any tax due is only offset by the loss available. the loss must also have occured prior to the sale of the property.
Thank you.

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