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Do I need to declare CGT losses on tax return if I do not wish to claim the allowable loss?
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Posts: 5,758 Forumite
I made some losses on trading CFDs. However, I am unsure if these can be claimed as an allowable CGT loss or whether it falls under a trading loss. Do I need to include these on my tax return if I don't won't to claim a loss? Is it mandatory to declare them as no tax is due or can I just leave them off?
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Comments
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If you have to complete a self assessment tax return, why would you not wish to claim them, unless your net gains and losses are positive but within your annual exemption? You don't have to claim them on your tax return if there are just losses:
https://www.gov.uk/capital-gains-tax/losses
CFDs are almost never trading losses for income tax purposes.1
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