Capital Gains (Losses)
These should be ideally reported in the Self Assessment Tax Return
There is no Capital Gains Tax Due, however, this loss can be included to offset future Capital Gains
This can be carried forward for an unlimited period, however, they have to be claimed at least within 4 years of incurring the loss
We would advise to make a note on the Tax Return in the year and keep safe and secure the supporting documents
With the Capital Gain Exemption reducing down to £3,000 this tax year 2024-2025 then It would be advisable to be in a position to have genuine losses to offset against profits
If you would like further advice and guidance
Please feel free to reach out
Tel: 01212852534
Web: www.secureaccountsltd.co.uk
#accountants #taxes #bookkeeping #vat #paye #selfassessment #corporationtax #accounts #companies #pension #investments
Would you like to speak to one of our financial advisers? Just submit your details, and we’ll be in touch shortly. It will be a pleasure to attend to you!
Give us a ring
0121 285 2534Send us an email
[email protected]Other website
https://www.secureaccountsltd.co.uk/