CGT LOSS - SELF ASSESSMENT TAX FORM

[dotto]

Sorry to ask such an inane question but I have been waiting on the phone for an HMRC tax adviser for half an hour.

The question is: I made a cgt loss on a property sold in 2012-13. I am in the process of completing my tax form for 2013-14 and have nothing about which to notify HMRC regarding cgt. Does the cgt loss automatically carry forward to the following year/s or is there a form I have to complete to submit with my self assessment form.

Any help would be much appreciated.

[Peter D]

Was the property your home, former home, a rental property of a refurb job. No you have the property pages of the SATR. Regards Peter

[dotto]

Hi
It was a rental property. I have another and have completed the property income page of the tax form but am unsure as to whether the previous cgt losses automatically transfer over to the following year or whether I need to do something.

Thank you

[bd6759]

As long as you reported the loss in your 2012-13 tax return, it will be available to set against any future gains. You do not need to record it in subsequent return until it is needed.