Yes you can carry losses forward; think there is a 5 year limit tho (nm)

Posted by BP on 14/January/2004 at 10:26:

In Reply to: CGT - Carrying losses forward ? posted by mikeyw on 14/January/2004 at 10:20:

: Guys,

: What's the position regarding carrying losses forward to the next tax year ?

: Say I lost £10K in one company could I carry that forward to offset against CGT profits the next year ?

: As I understood it this was not possible but a colleague claims it may be.

: Regards,
: Mike.

Follow Ups:

• Nice one - Does this include companies going bust like Monticello (sorry fellow holders)? mikeyw 14/January/2004 at 10:33 (2)
  • Yep >>> BP 14/January/2004 at 10:36 (1)
    • Yes, shares of negligible value.... Typo 14/January/2004 at 10:40 (0)
• Don't think there's a 5 year rule, plus you can only carry forward NET losses.... Typo 14/January/2004 at 10:31 (0)

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Comments:	: : Guys, : : What's the position regarding carrying losses forward to the next tax year ? : : Say I lost £10K in one company could I carry that forward to offset against CGT profits the next year ? : : As I understood it this was not possible but a colleague claims it may be. : : Regards, : : Mike.

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