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Using a cgt loss from 2010/11. Is it possible?
ormonde
Posts: 61 Forumite
in Cutting tax
In March 2010 my husband and I sold a second property and made a loss for cgt purposes. This loss was declared on our tax return for that year. In April 2011 we bought a property for our daughter to live in (rent free). Our daughter has now moved on in her life and we are therefore selling that property for which we will be making a cgt gain of approximately £50k. Can we offset the loss we made 10 years ago against this gain for cgt?
Many thanks
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Many thanks
.
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0
Comments
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‘Offset’ not technically the correct term but, Yes, CGT losses are carried forward indefinitely.1
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Thank you that’s very good news.[0
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