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Posted Fri, 06 Dec 2024 17:14:10 GMT by Andy Thames
Hi. in the tax year 22/23 i sold a Buy To Let and made £30k profit. In the same tax year, I also made a £30k loss on Crypto sales. Can any CGT losses be carried forward in this case? Is it one of the following or something else? 1) £30k BTL profit minus £12.3k allowance = £17.7k profit - use £17.7k of the crypto losses in year and carry forward the remaining £12.3k loss, or 2) £30k BTL profit minus £30k crypto loss - no losses to carry forward & cant use (so lose) the personal allowance.
Posted Wed, 11 Dec 2024 22:58:23 GMT by HMRC Admin 18 Response
Hi,
In year losses must be used first against any other capital gain even if that means you lose the annual exempt amount. Therefore in your example all the losses are used and there are no losses left to carry forward.
Thank you.

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