Capital Losses from Foreign Stock Sales

I sold several US stocks during the 2023/2024 tax year, with total gains of £700 and losses of £3,000, resulting in an overall capital loss. These stocks were held in my Hong Kong brokerage account. Questions: 1. Can I report this capital loss to offset future capital gains? 2. Should I use only the SA108 form, or do I need to complete both SA106 and SA108?

Hi,
Yes you can report it and you will need the SA100 as well as SA108.
Thank you.

Thank you for answering my questions. I am now filling out the online self-assessment form, but I’m confused about some of the questions: 1. The form asks, "Did you dispose of chargeable assets worth more than £50,000?" Since my disposal of chargeable assets is not worth more than £50,000, I chose "No." Then, the form asks, "Are losses deducted?" What does this mean? Does it refer to any previous losses being deducted from chargeable assets for the current tax year? 2. The form asks, "Do you want to claim an allowable capital loss or make any other capital gains claim or election for the year?" I do not have any losses from previous years, but I want to report this year's loss to offset future capital gains. In this case, should I choose "Yes" or "No"?

Hi CherylW,
Please refer to: Capital Gains Tax summary notes Tax year 6 April 2023 to 5 April 2024 (2023–24) - this is the notes on how to complete the Capital Gains section and the questions are the same as the online return.
Thank you.