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Posted Mon, 15 Jan 2024 14:55:08 GMT by
Hello, In the same 22/23 tax year I've gifted foreign property to relative and had several (about 15) non-related operations with stocks. For gifted property I need to pay CGT for which I'm going to use my 22/23 allowance. Most of stocks operations where at loss (about 5k GBP in total), but some gained about 0.5k GBP in total, so I don't need to pay tax on stocks. Total stock sales themself are below 49.2k GBP, but together with property operation it will be above 49.2k. Do I have right to use losses from stocks to offset gains from property gift to my relative? If not, do I need to report operations with stocks in this case?
Posted Wed, 17 Jan 2024 15:06:51 GMT by HMRC Admin 10 Response
Hi
No.  You can, if you choose, carry them forward and set against gains in a future tax year.  The tax rate for residential property are 10% (lower rate) and 28% (upper rate), wherase, shares are taxed at 10% and 20%.

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