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Posted Sun, 03 Mar 2024 09:32:02 GMT by Sam Chan
Dear HMRC team, I would like to know if I can offset the gain on property by the loss in stock shares for the same tax year. Let's say I have a taxable gain on property for £100,000 and a realised loss in stock shares of £60,000, is my taxable amount for CGT is £40,000 in that tax year? Thanks!
Posted Tue, 05 Mar 2024 11:15:28 GMT by Doug
I have a similar question. I would have expected the simple answer to be yes, except that different rates apply to property and shares. So, I would assume that in the example quoted by the OP, and assuming he is a higher rate taxpayer, he would pay 28% on the £100K property gain less 20% of the loss on the shares. Can anyone confirm this interpretation?
Posted Tue, 05 Mar 2024 11:55:08 GMT by Doug
Further to my earlier post, there is another answered post which is relevant - search "CG allowance when there is both CG on property and on shares?". Not re losses, but shows the different rates, and also the hmrc answer that you can apply the allowance in the most beneficial way, ie to the property gain
Posted Tue, 05 Mar 2024 12:48:29 GMT by HMRC Admin 8 Response
Hi,
Yes, you can set those losses against property gains.
Thank you.
Posted Wed, 06 Mar 2024 15:02:45 GMT by HMRC Admin 8 Response
Hi,
Please see figures at:
Rates for Capital Gains Tax
Thankyou.

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