Capital Losses

Hi, I have some losses on share sales which I have carried forward. If I have a loss in a future tax year which exceeds the personal allowance, can I choose to continue to carry them forward or do I have to use the past losses at the earliest opportunity?

Hi sbradford51,
It depends on the type - please refer to Capital Gains Manual CG15800 - Losses: allowable losses
Thank you.

They are losses on (UK) share sales

Hi sbradford51

It depends on the type - please refer to CG15800 - Losses: allowable losses

Thank you

I had some Capital Losses in the Tax Years 2021-22, 2022-23, 2023-24, which I did not report in my Self Assessment for the respective year. In 2024-25 I am likely to have some Capital Gains (over and above the $3k allowance). As Capital losses for the past 4 years can be reported to HMRC, could I please clarify how should I report these for prior years. Will it be via the Self Assesment process for the year 2024-25? Thanks

Hi khanrizz.rk,
You will need to report them in writing prior to the submission of the 24/25 tax return.
This should be sent to:
HMRC PAYE & Self Assessment BX9 1AS.
Thank you.