Reporting previous tax years capital losses

I need to report in this tax year the losses due to multiple Return Of Capital distributions over different tax years from a suspended investment fund. The popular Woodford Equity Income Fund was suspended on 3 June 2019 and In October 2019 the winding down of the fund assets started. Since then a total of five "Return Of Capital" distributions were made to affected investors in the fund on the following dates: 30 Jan 2020 25 Mar 2020 26 Aug 2020 11 Dec 2020 11 Nov 2022 Each distribution triggered a capital loss which I need to report to HMRC (in this tax year to remain within the 4 year reporting window since the 2019/20 year when the fund was first frozen and its winding down started). Please advise in which tax years would each of the capital losses , that resulted form the distributions listed above, be considered to have taken place. Thank You

Hi n sal,

Jan 20 and Mar 20 fall within the 20/21 tax year, Aug 20 and Dec 20 fall within 21/22 tax year and nov22 is the 22/23 tax year.

Thank you.



 

Thank you , but as the tax year is from April to April. then shouldn't the first two Return of Capital repayments made in Jan 2020 & March 2020 be allocated against the 2019/20 tax year ( i.e. ending 5th April 2020)? And similarly shouldn't the the Aug 20 & Dec 20 payments be allocated to the tax year 2020/21. Such timing argument correctly matches your third advice (that the Nov 22 payment falls in the 2022/23 year). I look forward to your clarification. Thank You

Hi n sal

Sorry this was a typo error - payments for Jan and Mar 20 are 19/20 and Aug/Dec 20 are the 20/21 tax year. Nov 22 is the 22/23 tax year.

Thank you

Thank for confirming my understanding. Can you please advise the full HMRC team address that I need to write to in order to record these capital losses for future offsetting against any potential future capital gains? Furthermore, is it correct that I will also need to include (again) in my letter a summary of all previously reported to HMRC ( and still unused ) capital losses reported for previous tax years? Thank you

Hi n sal,
The address to write to:
H.M. Revenue and Customs Self Assessment BX9 1AS.
Please provide all the details relevant to your issue. 
Thank you.