CGT - Offsetting Losses on Shares sales against CGT on property sale.

Lumphammer2

If I sell a BTL property I own, I will be liable to substantial CGT.

I currently have shares in an ISA.  I could transfer these to a trading account.

If at some point in the future, I sold the property, could I offset the liability by selling shares that lost value between transfer from the ISA and their sale?

And, if so, are there any other considerations I should take into account?

Many thanks in advance.

Keep_pedalling

if you suspect these shares are going to fall then there is no point in doing this, any tax saved will be more than offset by the losses. If on the other hand the share price increases you have lost the protection from tax they had in the ISA.

Lumphammer2

Thanks.  I take the point about the lack of tax protection, but, in a portfolio, some shares will fall and some will rise.  I wouldn't know which.  There is a great deal of flexibility with regard to bed and breakfasting, using allowances each year etc to mitigate tax on capital growth.

I might be looking at CGT of around 6-10k.  That is a real unavoidable liability on the property side.  I still think that my plan has legs.

macman

Yes you can, as long as the disposals all fall within the same tax year. Remember that you only have 30 days to report the CGT gain from the date of the property sale,

Jeremy535897

macman said:

Yes you can, as long as the disposals all fall within the same tax year. Remember that you only have 30 days to report the CGT gain from the date of the property sale,

It is now 60 days from completion:
https://www.gov.uk/report-and-pay-your-capital-gains-tax/if-you-sold-a-property-in-the-uk-on-or-after-6-april-2020