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Where Taxpayers and Advisers Meet

Using Business Asset Disposal Relief

lenb
Posts:3
Joined:Sat Nov 18, 2023 6:46 pm
Using Business Asset Disposal Relief

Postby lenb » Sat Nov 18, 2023 7:03 pm

Hello

I have two questions about offsetting capital losses against a capital gain.

I will be selling the company that I am a co-owner off this year. I will be using Business Asset Disposal Relief to reduce that capital gain.

1, Can I also offset capital losses that I have made this year against that gain in addition to the BADR?

2, Can I use capital losses from previous years?

Many thanks for any help.

Len

bd6759
Posts:4174
Joined:Sat Feb 01, 2014 3:26 pm

Re: Using Business Asset Disposal Relief

Postby bd6759 » Mon Nov 20, 2023 2:25 pm

Yes and yes. 1 first, then 2.

lenb
Posts:3
Joined:Sat Nov 18, 2023 6:46 pm

Re: Using Business Asset Disposal Relief

Postby lenb » Mon Nov 20, 2023 5:01 pm

Thanks very much for the reply.

lenb
Posts:3
Joined:Sat Nov 18, 2023 6:46 pm

Re: Using Business Asset Disposal Relief

Postby lenb » Thu Nov 23, 2023 1:28 pm

I may have missed off an important piece of information!

The capital losses will be from digital assets (bitcoin). So can the loss of that asset type be offset against the gain of a share sale asset?

Many thanks.


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