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Posted Mon, 15 Jan 2024 16:52:29 GMT by
I have a capital loss in year 2020/21 which I have not yet claimed. I understand that I have 4 years to claim/report this on my self assessment i.e. till Ap 2025. My questions are:- 1. if I claim/report the loss this year, do I then need to fill in the Capital Gains section every year till I use the loss? 2. Can I claim the loss for the first time on the self assessment in the same year that I use the Loss? 3.Where on the Capital Gains Section do I actually enter the Loss from a previous year - amount and the year it was generated? I can't find a relevant question. Is it under " Are you making any claims and elections" - and if so which Code do I select? The only appropriate one seems to be "Other". Many thanks for your help.
Posted Wed, 17 Jan 2024 15:12:44 GMT by HMRC Admin 10
The 4 years applies to the notification of the loss. It can carry forward indefinatley. once notifiied, you do not need to complete the capital gains section just to notify the loss to carry forward. You only need that page if you have had any sales in the year that meet the criteria for a return. For these losses, you are not making any claims or elections.
Posted Wed, 17 Jan 2024 15:59:58 GMT by
Thanks for your reply which helps with part of my query. This means I do need to notify the loss on my self assessment form this year or next year to meet the 4 year deadline. But WHERE exactly do I notify the loss in the CGT section? Which question or number box do I complete on the form for a loss made in a previous tax year? Thanks
Posted Wed, 24 Jan 2024 08:34:48 GMT by HMRC Admin 20
Hi lornalc,
As the loss is for a previous year, you will need to supply the information in writing and not on the return. this should be sent to:-
HMRC PAYE & Self Assessment
Thank you.

Posted Fri, 26 Jan 2024 11:45:12 GMT by
Many thanks that is so helpful I was looking everywhere for a box to fill. Would be worth including this advice in the guidance notes section.

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