Idontknowanything

Hi P4ulo - yes you can offset losses, but bear in mind that your question asks about offsetting mid-year "upon sale of a 2nd property". My understanding is that you will have had to incur that loss prior to the sale if you want to offset it at sale; otherwise you complete your CGT at house sale and then subsequently claim for your losses when you do your final tax return. That's been my experience this summer as my share disposals (at a loss) were a week after the house sale so I could not reduce my CGT at that point and will have to wait until end of tax year to claim and get a refund.

I will have to pay CGT within 60 days on gain just made on a property sale. A) Can I offset the losses incurred on share sales, and (B) do I do this at the end of the tax year in Self-Assessment return and then get a rebate, or at the time of submitting CGT return? I have received conflicting advice from other quarters. Thank you.