Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Sun, 29 Sep 2024 19:19:54 GMT by Bucko
Hi, in tax year 2022/23 I sold some shares in an OEIC and made a loss of £1000, I did not make any gains and did not complete the CGT section of my self assessment. Should I have declared the loss? in tax year 2023/34 I sold more shares in the same OEIC and made a gain of £9000 which I am declaring in the online self-assessment. Should I be able to offset the previous undeclared loss? If so, do I simply declare the amount of the loss in the 'Losses and Adjustments' field 'Losses set against 2023-24 capital gains'? Should I complete a 'Capital gains computation worksheet' or are these only for gains/losses in 2023/24? Thank you.
Posted Mon, 07 Oct 2024 22:43:46 GMT by HMRC Admin 18 Response
Hi,

If you want to carry the losses forward and set them against a future tax year, you will need to amend your tax return for 2022 to 2023, before 31 January 2025 to declare the losses and submit

supporting evidence.  After this date you will have to submit a claim in writing, including supporting evidence up to 5 April 2027.  In your 2023 to 2024 tax return you would apply the losses

carried forward, setting them against your gain.

Thank you.

 

You must be signed in to post in this forum.