offsetting capital gains with a capital loss

diveleader

Hi All

As I understand it, subject to a few rules, you can reduce your capital gain by offsetting some of the gain with a capital loss.

The sale of my holiday home is now going through and I will have some CGT to pay.

I have some poorly performing funds in a shares ISA - If I sold them, could I use this to reduce the capital gain?

These are funds and not individual shares.

Thanks

nomunnofun

diveleader wrote: »

Hi All

As I understand it, subject to a few rules, you can reduce your capital gain by offsetting some of the gain with a capital loss.

The sale of my holiday home is now going through and I will have some CGT to pay.

I have some poorly performing funds in a shares ISA - If I sold them, could I use this to reduce the capital gain?

These are funds and not individual shares.

Thanks

Not if they are within an ISA. The whole idea of an ISA is that you have an 'umbrella' of investments sheltered from Capital Gains tax. Losses within that ISA attract the same tax treatment - none!

diveleader

HI Nomu - that's what I thought ,but it was worth an ask!