michaelr

I have always been a UK resident and bought a holiday home in Spain in 2008 and subsequently sold in 2023. I made a loss on the sale so just wish to confirm the process. Can I declare the loss so that I can offset against the CGT gains from a future rental property I plan to sell? When I declare the loss I understand I convert into all costs into euro's, am I correct to use the exchange rate on the month of purchase as in 2008 the GBP/EUR rate was very volatile.

I bought a holiday home in 2008 and sold last year for a loss. Can I confirm I can report the loss and use it to offset the CGT on the profit from the sale of a UK property. I have always been a UK resident. For declaring the loss is it correct that I work out the GBP purchase price based on 2008 exchange rate and the GBP 2023 sales price. Can I also include costs to buy, sell and any improvements as per UK CGT calculations?