Reporting losses for Capital Gains

RaspberryFool

With the gradual erosion of the CGT tax free band and the recent hike in CGT rates on shares, it looks like (for the very first time) I shall have to consider trying to offset some losses against possible future gains.
However, the HMRC web site is very unclear about how one goes about this process.  It states "If you’ve never made a gain and are not registered for Self Assessment, you can write to HMRC instead."
I have never made a chargeable gain and am not registered for Self Assessment.  So what do I write?  "Dear Mr HMRC, I'd like to report a loss"?
Having failed to get through on the phone, I wonder if anyone else has had this experience and could throw some light on what one is supposed to do.
TIA
RF

Jeremy535897

https://www.gov.uk/capital-gains-tax/losses

CharlesLincs

I am in a similar boat... for the previous two years I had to give HMRC details about sales/gains/losses, once because the gains were just above the exempt threshold and once because the total value of sales was above 4x the exempt threshold (then £49.200 I think). Now for 2023/24 I have some sales with gains though the total gains are below the exempt threshold and the total sale value also doesn't even come near the £50.000 threshold, so no CGT payable.
However I also have some losses in that same year and though I know that these are set off against the gains (and will minimize the gains even more though not completely) I am not sure whether I have to tell HMRC about the gains and specifically the losses? I know there's no tax liability as such here but I don't want to fall foul of some rule that says I have to tell them about any losses minimizing the gains.
PS: I have to do SA anyway.

Jeremy535897

https://assets.publishing.service.gov.uk/media/660bbb5e91a3206e4382b06b/SA108_Notes_2024.pdf

RaspberryFool

Thanks Jeremy535897.
So I am assuming that I'll have to fill in an SA108 form.  Since the one on the HMRC web site is for the year to 5th April 2024, I'll assume that this will be a job for the next tax year.

Jeremy535897

Why? Which of these conditions do you meet?
Fill in the ‘Capital Gains Tax summary’ pages if: •  you sold or disposed of chargeable assets which were worth more than £50,000 •  your chargeable gains before taking off any losses were more than £6,000 (‘annual exempt amount’) •  you have gains in an earlier year taxable in this period •  you want to claim an allowable capital loss or make a capital gains claim or election for the year
Your query indicated that you were talking about 2023/24 so why refer to the next tax year?

CharlesLincs

@Jeremy535897
Sorry for the late answer... life intervened :-/
I had read the Notes you mentioned but I'd read somewhere (I think on this site but can't find the post now) that there is conflicting information on the HMRC site re whether it's just the total gains (as the Notes imply) or gains minus losses that have to be above the exempt amount to trigger this. Anyway, I'll stick to the SA notes text. Thanks again.
(And sorry to @raspberry_fool for hijacking...)

Jeremy535897

The SA notes say total gains before taking off losses above the exempt amount are the trigger, but your earlier post suggested that your gross gains were under £6,000?