Capital Gain

Capital Gain

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A client has had small trading losses for a few years and keeps carrying forward. They have now sold a property which has given a capital gain. Can you offset these trading losses against the Capital Gain?
Many thanks

Helen Dobbs

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By User deleted
05th Dec 2006 12:50

Wrong years
A trading loss can be set against capital gains if there is anything left over after first using it against other income. But: losses brought forward will not do -they have to be of the same year in which the gain is made though, provided the trade hasn't ceased, one can add on a loss of the following year ( again after first setting-off against other income).

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