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Posted Fri, 05 Jul 2024 20:47:33 GMT by L Cox
I have made a loss of £5,000 in selling some shares and in a separate account made a gain of £9,100. I also have losses carried forward from last year of £4,500. Box 45 says "only use losses brought forward to reduce gains to the ‘annual exempt amount’ for the year". i.e. £6,000. So is that Box 45 = £3,100 (to bring gain down to £6,000) in which case is Box 46 is £0 (as no tax would be due)? And box 47 (Losses available to be carried forward) apply solely to this year's losses (£5,000) or does it include any unused losses from last year? (£5,000+£4,500-£3,100 = £6,400)
Posted Fri, 12 Jul 2024 09:03:31 GMT by HMRC Admin 25 Response
Hi L Cox,
In year losses need to be used first even if this means you lose out on the annual exemption.
Any losses from previous years can be used at any time and it is your choice when this is.
Thank you. 

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