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Posted Thu, 19 Sep 2024 13:13:27 GMT by Gladys Chan
In this tax year 2023-24, I gained £10,000 for trading US stocks but incurred £15,000 losses while trading HK stocks. Can I firstly deduct £6,000 capital gain allowance from the gain £10,000, and then offset the remaining £4,000 gain from the loss (£15,000), and finally I can carry forward this year's £11,000 loss to the next tax year for offsetting future capital gain?
Posted Thu, 26 Sep 2024 16:28:38 GMT by HMRC Admin 20 Response
Hi,
No.
In year losses must be used first even if that means you lose out on the annual exempt amount.
Thank you.

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