keynesian

I have incurred and reported Capital Losses resulting from investments in mutual funds over a number of years but have not had any necessity to use these against profits in subsequent years. Now that allowances are so low, I am likely to incur a taxable Capital Gain on sale of mutual funds in the near future. I have in my last return a positive sum in line 47 of my tax return representing these historic losses. Is use of these losses time limited or can they be used at any time after incurred and reported? In order to use these losses against current year's Capital Gains (if the year's allowance is exhausted) is it merely a matter of reporting the profit for the tax year in question and deducting the prior reported losses from line 47 of the prior year's return or is some other process necessary in order to utilise these historic losses?