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Where Taxpayers and Advisers Meet

Allocation of losses - share and residential property disposals

27Spots
Posts:27
Joined:Mon Jul 04, 2016 10:37 pm
Allocation of losses - share and residential property disposals

Postby 27Spots » Thu Jun 22, 2017 10:04 am

Morning,

Easy question...

I have capital disposals resulting in gains on residential property and share disposals and losses on share disposals only. My understanding is that the losses on the share disposals can be offset against the residential property gain, rather than offsetting the gains on the other shares disposed (therefore reducing the amount of gain being taxed at the residential property rate of 28%)...but, my software is automatically allocating the share losses to the share gains, leaving the residential property gain wholly taxable at 28%...have I missed something?!

Thanks in advance for any advice :)

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Allocation of losses - share and residential property disposals

Postby maths » Tue Jun 27, 2017 9:02 pm

Check out TCGA 1992 s.4B.


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