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Posted Mon, 10 Jul 2023 12:13:11 GMT by Win CHAN
Hi, I tried to use the tool to find out whether I need to file a self assessment return during 2022/2023. However, I did not know how to answer the following question correctly 5. Did you get more than GBP10,000 from dividends or savings and investments? My case is that 1. I do not have a job and just have saving interest of around GBP12000. However, I have realized loss in sale of share of in 2021/2022. Will the loss in sale of share in previous year /current year be counted as a negative investment income as above and offset against the saving interest in 2022/2023? Many thanks.
Posted Fri, 14 Jul 2023 12:00:09 GMT by HMRC Admin 8
You need to complete a tax return due to the level of savings interest you receive.
The loss you made on the sale of the share is a capital loss and can only be set against any future capital gains.
Thank you.
Posted Fri, 14 Jul 2023 13:19:54 GMT by Win CHAN
hi Thank you for the prompt reply. I have a web chat this morning with a HMRC staff (Chat ID : 188698945978978772) regarding my case mentioned above. I was told that I DONT need to file a tax return and advised that "all you need to do is write in to us with a covering letter explaining the loss so we have it on record." I was a bit confused as suggestions to the same case is totally different. I am not sure if it is because the sale of shares i mentioned above was in 2021/2022. In fact, I sold some shares with loss in 2022/2023 also. Would you please check and advise? Many thanks.
Posted Thu, 20 Jul 2023 07:57:31 GMT by HMRC Admin 5

Please note that you can notify HMRC of a capital loss either by letter (including a calculation showing how you arrived at the loss)) or in the Capital Gains pages (SA108) of your Self Assessment tax return. Have a look at the guidance here 
HS286 Negligible value claims and Income Tax losses on disposals of shares you have subscribed for in qualifying trading companies (2023)

Thank you

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