stocks and shares isa loss tax deductable?
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d.ylan
Posts: 88 Forumite
in Cutting tax
Might seem a silly question to anyone who knows the answer, but I had few years of stocks and shares isa which took a massive nose-dive as you imagine so I withdrew them. I just wondered if the loss I made here, as the amount I got back was less than I put in, is offsetable on my self assessment form in some fashion?
I'm not seeking definitive tax advice as such, just a more broad enquiry as to if this seems feasible as I do my own SA and would obviously seek some expert opinion if it is, but don't really want to waste my money if it's an obvious no-go.
Many thanks ::)
I'm not seeking definitive tax advice as such, just a more broad enquiry as to if this seems feasible as I do my own SA and would obviously seek some expert opinion if it is, but don't really want to waste my money if it's an obvious no-go.
Many thanks ::)
0
Comments
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No.
They are tax free on the way up .... what do you expect on the way down?0 -
What about direct investments in stocks?0
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Yes, you can offset capital losses against capital gains outside an ISA.0
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For those with massive losses outside an ISA (ie over say 10K) it is better to establish them now by selling over the end of the tax year. Then next year if you buy again you have the loss ready to set against future profits.0
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