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Posted Sun, 29 Sep 2024 14:04:02 GMT by Katharine Cantell
Can I offset a large UK capital loss by selling US shares held in the US that have a large capital gain? Thanks
Posted Mon, 07 Oct 2024 22:40:20 GMT by HMRC Admin 18 Response
Hi,

Have a look at the guidance at https://www.gov.uk/tax-sell-shares.  As a UK resident, should you dispose of foreign shares and make a gain, you may be liable to UK capital gains tax on the

share disposal.  This is declared in a self assessment tax return.  Any losses arising from the disposal of UK shares, can be set against any gains arising on the disposal of foreign shares.

Thank you.

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