Foreign share capital losses

Can they be offset against UK capital gains

Didn't find your answer?

Client has incurred losses on foreign shares in the year but also made capital gains on UK shares. IRIS has automatically offset the losses against the gain but I was under the impression that this wasnt possible? However, I cant locate the legislation which confirms this?

Replies (5)

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By Rweaver
16th Jul 2020 09:29

Ah, you’re looking for something that doesn’t exist.

Good luck with your quest.

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By Tax Dragon
16th Jul 2020 10:20

Are you thinking of s16(4) TCGA (now repealed)?

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By IslingtonAccountant
16th Jul 2020 10:42

Are you possibly confusing the general position with the non-dom position/offshore losses election?

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By SA2016
16th Jul 2020 17:46

Are we therefore saying that a UK res/UK Dom individual can offset the foreign capital losses against UK CG's then?

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Replying to SA2016:
Psycho
By Wilson Philips
16th Jul 2020 18:48

Yes

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