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  • RE: Carried Interest Loss

    Thanks for this but it doesn't quite answer my questions in full. If I have to report the loss this year - how do I ensure it carries forward? Specifically, is the capital loss saved as part of my self-assessment calculation in 2023/2024 so that it will be automatically offset against capital gains in 2024/2025 in the tax calculation or do I need to claim the loss in the self-assessment form itself in 2024/2025 as well as reporting it in 2023/2024? The reply in the thread below also suggests I can simply report the losses next year not this year. Is that correct? it seems simpler to do it that way round if so.  Thanks.

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  • Carried Interest Loss

    I have units in a carried interest partnership which are reporting a loss this year (T/E Apr 2024). In T/E Apr 2022 the units recorded a gain. I expect (based on cash realisations YTD) that there will be another gain for the 2025 ending tax year. I am wondering how best (or most easily) to manage this timing mismatch on my self-assessment reporting so that the correct net gain is taxed (in total over the years). Are the options outlined below possible/recommended? Can I delay reporting the T/E ending 2024 loss until next year (T/E ending 2025) to offset the gains then? Can I report the loss this year and have it carried forward to next year? (if so how...?) Is there a third option to reclaim tax paid on the 2022 gains? (and if so how?)