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Where Taxpayers and Advisers Meet
Capital losses
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Brightonian
- Posts:137
- Joined:Wed Aug 06, 2008 3:31 pm
Is it possible to disclaim brought forward capital losses for a particular year? My client will have a capital gain this year and has losses brought forward from the early 2000s. However, any UK tax paid by him can be offset against tax he has to pay overseas on the same gain. Therefore it would be sensible not to use the losses against this gain but to carry them forward and preserve them. Is this possible? I have never come across it. I'd be very grateful for any help forum members can offer.
Re: Capital losses
Losses need to be utilised in computing the gain.
It was s2(b) TGGA. Now s1(3) after the rewrite.
It was s2(b) TGGA. Now s1(3) after the rewrite.
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Brightonian
- Posts:137
- Joined:Wed Aug 06, 2008 3:31 pm
Re: Capital losses
Thank you very much. Oddly enough, I couldn't find that.
