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How to use losses from previous years to reduce CGT?

ffs
ffs Posts: 295 Forumite
Part of the Furniture 100 Posts Combo Breaker
I sold shares in summer 2001 and made a loss. I didn't declare the loss in my tax return at the time. This year I will make gains greater than £9k, can I use the earlier loss to offset the gain even though I didn't declare it originally?

How do I declare the earlier loss when using TaxCalc? Do I simply include the figure in the losses carried forward box and attach a pdf detailing the losses?

Thanks in advance

Comments

  • jimmo
    jimmo Posts: 2,287 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Too late, I am afraid. The time limit for making claims is 5 years from 31 January following the end of the year of assessment.
    For Capital Gains losses realised in the year ended 5 April 2002 your claim had to be with HMRC by 31/1/2008.
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