P4ulo

Thanks for your reply. I am not looking for a specific response to this example. I am looking for guidance and thought an example would be the clearest way. Specifically, I am asking if the suggestion in the post earlier is valid i.e. With a number of share trades over the year some will result in gains and some in losses. Can these losses be offset against the capital gain mid-year upon sale of a second property? Thank You

It would be good if we can get a specific clarification here from HMRC Admin. The examples in the linked page don't really represent the scenario that was asked about and Alan Webb's response is suggesting a very specific course of action. The scenario I would like to understand is as follows (assuming negligible other income for sake of clarity). Property Sale in (say) August: Net Gain £13000 Share Trading Activity up to August: Total losses £10000, Total Gains £5000 across a number of purchases and sales. The proposed approach above would suggest that upon submission of the CGT form for disposal of second home within the 60 day period the following is valid: In August/September/ November submit a zero tax liability based on the below: Capital Gain: £13,000 from property Capital Loss: £10000 from shares Net Gain £3000 Less personal allowance of £3000 CGT Due = zero In the following annual tax return report £5000 capital gain from shares (assuming no further taxable events) Net Gain £5000 as losses were assigned previously CGT Due = £500 (at 10%) Now comparing this with just submitting the property sale with no offset or CGT allowance assigned would result in CGT of £1800 in August and £200 in the tax return (£10000 gain less £5000 loss less£3000 allowance all at 18%)