Hi Folks,
Over the years I have accumulated Capital Losses through investing in Shares. I have now moved all my share holdings into ISAs so any investing I do from now on wont incur Capital Gains Taxes, and any new money I invest in shares will be through ISAs also. But I still have about £40K worth of losses that I am carrying forward every year. Can these losses be utilised in any way other than to offset Capital gains on shares, e.g BTLprofits, Self employed Business etc? Or is it something I'll carry forward until I pass away?
TIA
Maylix
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Accumulated Capital Losses - any use?
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- Lemon Half
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Re: Accumulated Capital Losses - any use?
Yes, would be available to reduce any Chargeable Gain on a second home, for example.
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- Lemon Pip
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Re: Accumulated Capital Losses - any use?
That reply triggers the question... would accumulated losses be available to set against any tax that arises from exceeding the pension LTA?
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- Lemon Slice
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Re: Accumulated Capital Losses - any use?
meldrewlives wrote:That reply triggers the question... would accumulated losses be available to set against any tax that arises from exceeding the pension LTA?
Absolutely not !
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