I'm having a mental block but seem to remeber from studies that you could carry forward an unused CGT allowance to the following year. Can you do this still ( or could you ever do this) or have i lost it completley having been out of practice due to children.
Joanne Ainsworth
Replies (3)
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No you can't and I'm fairly sure you have never been able to.
Are you thinking of the amount (£3,000) that can be given away without coming into Inheritance Tax (this can be carried forward one year)?
Just to save your sanity
You can carry forward for one year the £3,000 annual allowance for IHT. Is that what you are thinking of?
Is it CGT losses rules you're thinking of?
Maybe it's the rule on CGT losses you are thinking of? S3(5A)-(5C) TCGA allows you to carry over a loss b/f so you don't waste your CGT allowance for the year.