CGT & offsetting losses against gains on mixed assets - Shares & Land

ljayljay

I will need to do a Self-Assessment for TY 24/25 to pay CGT on a plot of land. However, I have also sold two shares, one for a gain & one for a loss. To keep things simple the figures below are not the specific value as my question is around the methodology.

Also, for this purpose I am a BR taxpayer. I therefore assume that I have a £3K CGT allowance with the excess gain payable at 18%.

Share A – Purchased 2021 for £1,000, Sold May 2024 for £2,000 – Gain = £1,000

Share B – Purchased 2015 for £5,000, Sold January 2025 for £2,000 – Loss = £3,000

Land – Inherited 2015 Value = £10,000, Sold February 2025 for £20,000 – Gain = £10,000.

So, my question is will I be able to offset the loss of £3,000 for Share B against my overall gain of £11,000 on Share A & the land, equating to an overall gain of £8,000? Alternatively, am I only able to offset my losses on Share B against the gain made on Share A with CGT on the land still payable on the gain of £10,000?

NB for this purpose please ignore any agent, solicitor fees that are deductible from the sale of the land.

Bookworm105

CGT liability is based on the date of disposal
if all disposal transactions fall within a single tax year then you calculate a combined net gain 

basics explained here: Capital Gains Tax: what you pay it on, rates and allowances: Work out if you need to pay - GOV.UK

ljayljay

Ok that's great as it appears I can aggregate my total losses against total gains irrespective of type of asset.

Dazed_and_C0nfused

Also, for this purpose I am a BR taxpayer. I therefore assume that I have a £3K CGT allowance with the excess gain payable at 18%

I don't think that assumption is correct.

You could be a basic rate payer who has used £37,700 out of a basic rate band of £37,700.

You need to check what basic rate band you will have left available for the CGT.  Note any interest or dividend income taxed at 0% will use some of your available basic rate band.

ljayljay

Dazed_and_C0nfused said:

I don't think that assumption is correct.

You could be a basic rate payer who has used £37,700 out of a basic rate band of £37,700.

You need to check what basic rate band you will have left available for the CGT.  Note any interest or dividend income taxed at 0% will use some of your available basic rate band.

Right, here are some more details.
Pension circa £20,000 pa
Savings interest £1,000
Dividends £100/£200 max
Capital Gain from land sale £18,000
Shares sold 24/25 as above. Net Loss £2,000

For CGT purposes how would that compute?

Please NB I have another piece of land that may produce a gain of £8,000 if completion reached before year end. 

[Deleted User]

The capital gain of £19000 (including sale of Share A?) reduced by in year losses of £2000 and annual exemption of £3000, would all be charged at the lower rate. 

ljayljay

Just a further supplementary question. When working out the losses on share B I now realise that a high percentage of the shares at sale were in fact awarded by way of a DRIP. Do I also add the amount of the drip purchases to my initial purchase price? I'm thinking that had I taken cash dividends instead, my current loss would be even greater.
The amounts involved each year would not have been enough to attract dividend tax.