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Posted Fri, 28 Jul 2023 11:41:45 GMT by
I have disposed a property which was a residential property when i lived in Hong Kong, i acquired in 2015 and the cost is GBP420,000 and disposed in July 2023 of GBP400,000. I used the capital gain tax calculator and show that i make a capital loss of GBP61,200 (including my improvement cost, agent and professional fee). Do i need to report or communicate to HMRC or any other Government Body?
Posted Thu, 03 Aug 2023 16:19:03 GMT by HMRC Admin 20 Response
Hi Kar KWAN,

You will need to report it if you wish to have the loss recognised so that it can be set against any future capital gains that you have.
The loss, once notified, can be carried forward indefinately.

Thank you.

 

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