We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Losing money on shares - what does offsetting mean?
Options

Tracyk_2
Posts: 345 Forumite
in Cutting tax
I've had a couple of grands's worth of losses over the years. Does offsetting mean that if I want to sell my allowance ie £10,100 profit - I can add on my loss of £2,000. ie I can sell £12,100 profit?
0
Comments
-
Sort of correct - you set your losses against your gains and then take off your exemption.0
-
No, it means that if you have reported those losses wihtin 6 tax years of the disposal date they are carried forward indefinitely. Then if you ever have a chargeable gain which exceeds the annual limit - and bear in mind 10,100 was "under review" to go down to 1,000 or so back in June - you have those losses to offset against the net gain and hence the tax bill.Hideous Muddles from Right Charlies0
-
I haven't actually 'disposed' of them - they just went to 0p and some disappeared off my iii portfolio listings.0
-
HMRC have an approved list of "Nil value" shares, if yours are on the list claim the losses on your return. Most decent brokers also can access this list.Hideous Muddles from Right Charlies0
-
Drat - just looked at the list - none of mine are on there!0
-
No, it means that if you have reported those losses wihtin 6 tax years of the disposal date they are carried forward indefinitely. Then if you ever have a chargeable gain which exceeds the annual limit - and bear in mind 10,100 was "under review" to go down to 1,000 or so back in June - you have those losses to offset against the net gain and hence the tax bill.
You have 4 years to notify allowable losses - whether SA or otherwise. And you deduct the losses from gains made in the same tax year year first of all ....... before applying the annual limit.If you want to test the depth of the water .........don't use both feet !0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards