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Posted Tue, 30 Jan 2024 22:54:34 GMT by David Orr
Hello, I am a UK resident. On my Canadian holdings, I have a realised capital loss of C$800. Can this be set off against foreign income when completing the Foreign section of the self assessment? Thanks.
Posted Fri, 02 Feb 2024 08:43:25 GMT by HMRC Admin 19 Response
Hi,

A capital loss is normally only available against capital gains. You would need to clarify the type of income the loss originated from.

Thank you.
Posted Fri, 02 Feb 2024 09:16:56 GMT by David Orr
Thanks. The loss resulted from some trades that were made in my investment account when I rebalanced my portfolio. Please confirm how this affects the above? Thank you.
Posted Tue, 06 Feb 2024 10:33:04 GMT by HMRC Admin 8 Response
Hi,
These capital losses can only be set against future capital gains.
Thankyou.

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