CGT Computation Losses Calculated the same way as gains

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Presentation transcript:

CGT Computation Losses Calculated the same way as gains A loss on the disposal of an asset can be offset against gains arising in the same year Losses not used in current year can be carried forward When a loss is carried forward it is used before the annual exemption is applied

CGT Computation Losses Losses arising on the disposal of assets to a connected person can only be offset against gains arising on subsequent disposals to the same person.

CGT Computation Restrictions in relation to indexation relief and the 6th April 1974 rule Cannot increase a loss Revert to actual loss Cannot increase a gain Revert to actual gain

CGT Computation Restrictions in relation to indexation relief and the 6th April 1974 rule Cannot turn an actual gain into a notional loss No gain/no loss applies Cannot turn an actual loss into a notional gain