Am about to pay CGT after a house sale, but will soon incur a loss when I sell shares

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?

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.

In the scenario above. If shares are sold for a loss after the date of the property sale but within the 60 day period. Is there a way to offset the share loss against the property CGT payment? (Or not till the annual for 2024/25 which can be done on 6th April 2025 resulting in a CGT refund?)

North East, Here’s some critical information which isn’t disclosed to tax payers until they actually start filling in their CGT form online: you can only factor in the losses you have made from selling shares if the shares were sold before the property exchange date. (So the date when the property is sold isn’t relevant.) I was disappointed when I found out about that strange little rule. I would have sold my shares before we exchanged if the rules had been more transparent. I am not trying to minimise the amount of tax I pay, I just really dislike doing this type of admin and want to minimise it. I will now have a second form to complete next April, meaning extra work both for myself and for the Inland Revenue.

Hi ,
 

There is a section within the form to show in year losses that you wish to use . Thank you .

Hello HMRC Admin - I am in similar situation, so will really appreciate if you could please clarify. Have sold a BTL property in Nov-24 at small capital gain, but also sold shares couple of days AFTER incurring some capital losses. I am still within 60 day window, can I offset the losses against the gains now?... or do I have to wait to complete a full return and only then get CGT refund back for the losses? regards