How to report capital gains losses for previous years when no capital gains for this year

Hi, where do you show capital gains losses from previous years when you have no capital gains for this year on the SA108. Last year the tax advisor said to show this as additional information on SA100 as the Capital gains form was just for the current year. But I found your post and I am not sure they advised us correctly. Thank you in advance for your advice.

Hi Rustie54,
There are two way in which capital gains losses can be declared to HMRC.  
By submitting / amending an indate tax return or in writing to
H.M. Revenue and Customs Self Assessment
BX9 1AS.  
You can claim losses for up to 4 previous tax years.  
Have a look at HS227 Losses (2023)

Thank you.

Hi If I didn't report the capital loss for the year 2019-2020 (because of no capital gains in that year), can I amend the tax return form for the year 2022-2023 and report the previous losses there? I understand that the losses can be claimed backwards for 4 years. Does that means that the deadline to use the 2019-2020 losses is for the 2023-2024 tax return? Thanks a lot.

Hi,

The 4 years only refers to HMRC being notified that they exist. the loss itself can be carried forward indefinately.

You are now to late to make a claim for these from 2019 to 2020.

Capital Gains Tax: what you pay it on, rates and allowances

Thank you.

Hi I made losses on two individual share purchases. In both cases the shares (quoted on the AIM) were delisted and the companies ceased to exist in their current form with the shares worthless. The shares were purchased in 2013 and 2014 respectively. With the delisting taking place in May 2015 and January 2020 respectively. What is the position with these two share purchases and capital gains losses? Can they be included in a future capital gains offset for a future finacial year?

Hi Declan 1969,
You need to report any capital losses within 4 years of the tax year in which they arise in order that they can then be noted and used at a later date. as the date you refer to are outwith this period, if not previously notified to HMRC you cannot  now use them.
Thank you.

I made a capital gains loss of £17,500 in 2013/14. I declared this loss on my tax return in the same year. Will I now be able to use this loss in a future year as I am hoping to dispose of an asset in the next couple of years? Also, do I need to keep reporting this loss in future tax returns even though there have not been any other gains or does the fact that the loss has already been noted suffice? Thanks

Hi Suzanne,
There are two way in which capital gains losses can be declared to HMRC.  
By submitting / amending an indate tax return or in writing to:
H.M. Revenue and Customs Self Assessment
BX9 1AS.  
You can claim losses for up to 4 previous tax years.  
Have a look at HS227 Losses (2024)
Thank you.