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Posted Thu, 31 Oct 2024 23:30:06 GMT by Northern Lass
My tax affairs are straightforward, so I never file an annual tax return, and I do not have an online tax account. I sold a residential property this week, a second home, and I will pay the required CGT within the next 60 days. (I have already requested a paper form that I can fill in.) I hold some bank shares on which I have made a loss, and I plan to sell those shares sometime during this tax year, but probably not within the next 60 days. Can I still offset the loss (shares) against the gain (property) even though I will already have settled the CGT bill by the time I sell the shares? Also, when/how can I claim the tax back after selling my shares, as I do not fill in a tax return?
Posted Thu, 07 Nov 2024 12:16:11 GMT by HMRC Admin 19 Response
Hi,
You can only calim the losses once they are actually confirmed. As this will be after the 60 days reporting requirement, you will need to complete a full return for 2024 to 2025 to declare both disposals. Once the return has been submitted and any CGT refund calculated, this can then be issued,
Thank you.

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