Losses on share sales

[newsboy]

Well I cant, blame the Butcher or the Baker. So we blame the Chancellor of the time. Clearly, the answer to making sure you dont lose the AE ENTITLEMENT we are ALL allowed is to not (if possible) make too many losses in the same year, so the allowed AE is not wiped out! I could have sold 2 share holdings at a loss in the next year and kept my losses lower and then benefitted from the AE we are all allowed. I would have paid a very small amount of cgt after AE was beneficially used. But I would have had £9200 tax free profit. Spouses beware £18,400 AE tax free could be lost. Be careful tax payers.
I think we have contributed to a 20 posts.

[jasmin]

I read above from some one that "capital gains" losses can be carried foreward 20 or more years. Yet I read on the Revenue site that losses made since 1996-97 must be claimed within five years and ten months of the end of the tax year. Does this mean you must use them ie offset them with profits before the five years is up or just report them to the revenue for future use.ie to use them in 20 or more year if you need to.

[Simon Sweetman]

No, you do not have to use them wihtin five years, but you do have to make sure they are carried forward on your tax return or otherwise noted to HMRC.