Investment /Capital Gain/Loss/Tax credit relief

Hi all, I am a UK tax resident but NOT domicile. I am NOT using remittance basis. Can I confirm the following regarding my overseas investment accounts which trade public stocks and bonds and options? 1) if the gross gain is 10,000, gross loss is 2,000, NET capital gain is 8,000 can I put a)Allowable cost 10,000 b)Loss in the year as 2000 c)Disposal proceeds 8000 d)So I can carry forward 2000 as tax credit relief? 2) when I count number of disposals, the same underlying stock but options with different maturity data or strike price, do I count it as one disposal? Thanks and regards, CL

Hi CL,
If you are completing SA108 paper supplementary page, listed and unlisted shares and securities are declared on page CG2.  
Disposal proceeds of £8000, with costs of £10000, gives rise to a loss of £2000, that can be carried forward.
Thank you. 

Thank you so much.

Hi admin, I checked the government website and it said to offset the loss, it must be the same shares. Does it mean that If I lost money on Amazon, the tax credit relief must be used by the gain on Amazon only , not other stocks ? Thanks CL

Hi,

Please see below regarding losses.  

Capital Gains Tax: what you pay it on, rates and allowances: If you make a loss

Any loss on shares can be offset against any other Capital Gains in the same year or carried forward and set off against any future Capital Gains. The losses do not require to be for the same company.

Thank you.

hi Admin, thank you very much for your reply.i have further questions which i would like to clarify. i am NOT uk domicile, but i am a uk tax resident and NOT using remittance basis. can i confirm which form(SA?) i should fill for UK bank accounts 1)deposit interest from uk banks 2)dividend from public list stocks from uk bank account 3)profit and loss from public list stocks from UK bank account Overseas bank accounts 4)deposit interest from overseas account 5)dividend from public list stocks from overseas account 6)profit and loss from public list stocks from oversea account And i have 20 instruments for profit and loss for public traded stocks, could you advise how i can fill the form? Among those 20 publicly trading stocks, there are 18 instruments that i would like to report p/L. and there are 2 instruments which i loss money and i would like to carry forward the loss for latter year. what should i do? the breakdown of these 20 public traded stocks ie 18 instruments sale proceed 180,000 18 instrument buy proceed 170,000 =10,000 gain 2 instruments sale proceed 22000 2 instrument buy proceed 24500= -2500loss how can i fill the form to reflect 10K gain and also to carry forward 2500 loss? thanks and regards, thanks CL

Hi,

Income from UK bank accounts should be declared on SA100. In answer to your numbered questions, the income received should be declared as follows:   

1. SA100
2. SA100 
3. SA106 and SA108
4. SA106
5. SA106
6. SA106 and SA108

Thank you.