Carrying forward CGT loss

Hi,
Capital losses can only be used against capital gains so you cannot use these against your rental income.
Thank you.

I understand that current year losses have to be used first against current year gains However if there are carried forward losses -do these have to be used in the event of chargeable current year gains after current year losses are utilised In other words could the carried forward loss figure be retained - thinking about possible preservation of carried loss position to utilise against possible higher CGT rates in the future Thank you for any insight

Hi,
You can carry forward previous years losses until such time you want to use them.
Thank you.

Thank you

Hi, for SA 23/24 I have A. £900 gains B £0 losses C £2000 carry-over losses from the previous year. Two questions: - I can just declared £900 and continue to carry forward the £2000 correct ? - if next year(24/25) say I have a gain of £7000 and no losses, I can just use £1000 from my carry forward losses to be within the £6000 CGT allowance right ? and carry forward the remaining £1000 ? Thanks!

Hi,

Based on current legislation yes that is correct, however we cannot comment on future events as legislation may change.

Thank you.

Hi HMRC, Having sold out of a share as fear of the stock going under, this resulted in a loss in excess of £140,000. December 2021 ,I disposed of a business asset resulting in a CGT liability of in excess of £40,000 the intention was to reinvest back into farm land and claim the roll over relief, with the significant share loss I’m unable to do so. The roll over relief is due to end on Dec 6 2024. The question is, can I offset the shares loss against the roll over liability and claim it back before Dec 6 2024?

Hi JGregory,
Please refer to the following guidance as this explains the rules around allowable losses and the, rare, circumstances in which they can be carried back. It is unlikely these will apply in this case.
CG15800 - Losses: allowable losses
The gains on which the provisional roll-over relief claim was made occurred in 2021 to 2022 and if the losses realised were in a future year it is unlikely the losses will be able to be utilised against this gain. Roll-over relief provides 3 years to re-invest gains in to the business but does not alter the year in which the gain occurred.
Thank you.

Dear HMRC, If selling stocks & shares at a loss in 2024, how long can the loss be carried forwards ,if a future profit from stocks & shares were to be gained?

Hello, I have a capital loss recorded on a previous tax return and I have no gains to offset this year. Do I need to 're-declare' the loss on subsequent tax returns (if so which boxes does it go into on the return) or is it sufficient that it has been notified and then I use it in subsequent tax returns as an offset loss as required? Thanks

Hi ,
 

They can be carried forward indefinately. You do however, need to notify HMRC of the loss within 4 years tough so that the details are held on your record . Thank you .

Hi Reset,
You do not need to keep recording the carried forward loss. Just keep a note of the tax return the loss was claimed on.
Thank you

Hi, If I didn't file a self assessment return for year 2022/23 as my total taxable gain during 2022/23 was less then the allowance while there were many loss during that year. Can I still carry the capital loss for that year to 2024/25 self assessment? If yes, how should I claim and report those unused loss during 2022/23? Thank you.

Dear HMRC, I am not registered for self assessment. If I make gains this tax year (24/25) of £4000 and a loss of £1000 do I need to report this or as the net gain is below annual allowance is this ok not to report it?

Hi,
You can check if you need to send a Self Assessment return at:
Check if you need to send a Self Assessment tax return
Thank you

Hi
You need to send in details of the loss first giving a calculation as to how you arrived at your figures. This should be sent to
HMRC
PAYE & Self Assessment
BX9 1AS

Dear HMRC. I am carrying a capital loss from a prior year which was reported in my tax return of that particular year. in 2023/24 I have gains above the annual allowance and so normally I would use some of the carry forward loss in this tax year. My question is whether I have to use some of the carry forward loss in 2023/24 (thereby reducing my net gain to the annual allowance) or whether I can keep the gain (and therefore pay tax on it) and then use the 'untouched' capital loss in later years. Hope that is clear. Thanks in advance.

Hi,
You do not need to use the loss from previous years, it is only in year losses that must be used in that year. You can opt to pay the tax on the gain and keep the losses for a later date.
Thank you.