Sold investment property 23/24 tax yr at loss. Sold another this yr for profit need cgt help.

I’m looking for some advice on the subject about. An investment property was sold last yr with about a 20k loss, may 23. This has not been reported in the tax return as tax return hasn’t yet been done. Sold another property this tax yr which has made profit. Would like to offset last years loss on this years profit, but the capital gain it has to be paid within 60 days and previous year year to be reported, so how is this done without having to submit last tax years full accounts early. Thank you.

Can’t anyone help please.

Hi ,
 

Please refer to https: www.gov.uk/report-and-pay-your-capital-gains-tax .  We can only provide general information / guidance in this forum.  For an answer to a detailed question of this nature, you would need to contact our self assessment helpline on 0300 200 3310, or seek professional advice .    Thank you .

Hi,
As you have until 31 January to submit an online tax return (31 October if paper) you would include the previous years loss in your capital gains calculation,
to help work out the tax payable and report and pay the tax due.  
You would then complete your previous years tax return (23/24) claiming the loss in the capital gains section and electing to carry it forward.
Thank you.