Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Sat, 06 Jul 2024 21:32:37 GMT by Gary Y
Hello, If I keep losing money, can I accumulate the amount and carry forward for reduction of my future gains? How many years can I carry forward or there is no limit (it can be rolled until used)? Thank you
Posted Fri, 12 Jul 2024 14:16:52 GMT by HMRC Admin 25
Hi Gary Y,
Capital gains losses arising in a tax year, need to be claimed withing 4 years of the end of the tax year, by writing to HMRC at H.M. Revenue and Customs Self Assessment BX9 1AS
And enclosing supporting evidence or in a Self Assessment tax retur in the capital gains section.
Again, supporting evidence is required.
If the losses are agreed by HMRC tax inspectors, they can be carried forward indifinitely or until the next tax year a gain arises where they can be set against the gain.
Any surplus losses can continue to be carried forwards.
This process is repeated for each tax year that losses arise.
Thank you.

You must be signed in to post in this forum.