Mark Anthistle
Joined: 8/5/2024
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RE: FHL losses and future CGT
What would be the loss carried forward/CGT position based on the current legislation be then? If I have a client who runs an FHL business which generated losses from claiming capital allowances, can they offset that loss carried forward against the CGT liability generated from the sale of the FHL property? E.g. FHL bought for £1.0M in 2018 and capital allowances of £100k (all AIA) claimed which created a loss of £100k. FHL is sold in May 2025 for £1.3M. Can I offset the £100k loss (assuming it has not been exhausted in the interim) against the £300k profit to give a net CGT liability of £200k?