How do I report 2023/4 net share losses against CGT liability on a house sold in March 2024?

We have been trying to report a CGT gain on a property my wife and I sold a few weeks ago but we have both sold shares in the last year (all at a loss) and we can't figure out how to report the share loss on the HMRC calculator. Our combined loss on shares is about £35k and we have each made a "gain" on our property of about £100k before other allowances. Thanks for any advice

Hi,

If the property is jointly owned, you both need to perform separate capital gains calculations. The default split is 50/50.  

There is an online calculator below, to help with this.  

Tax when you sell property

Please answer 'yes' to the question "What is the total value of your Capital Gains Tax losses from tax years before 2024 to 2025?".

Thank you.

Thanks for reply - our gain was in 2023/4 and soon needs to be reported, but the residential CGT calculator only seems to picks up losses from previous years. Do we need to complete 2023/4 tax returns first to record our share losses so that these are "on file" to be offset against any gain? Thanks

Hi
Please use the the losses box for earlier years to claim losses in 23/24.  The one box does both earlier years and current year.
 

Hi sorry to use but sort of same as ours Csn I just get confirmation when using the HMRC cgt calculator - I have shares loss in the SAME year as the property liability. So the question that implies I put loss from year before is also to be used for same year loss?are you saying the question is worded wrong and I can put my unreported loss ( due to same year loss ) in that box ?

Hi
If the share loss actually occured prior to the sale of the property then yes, if not, you will need to wait until you complete your tax return.