How to report capital gains losses for previous years

Hi HMRC, How do I report capital gains losses from previous years like 2021/2022? I'm submitting capital gains computations this year, is it sufficient to include the previous years computations in the report or do I need to write to HMRC to inform them of previous years losses that I would like to carry forward? Thank you

Hi
You can include them in the return as long as the losses are not more than 4 years old.
Losses need to be reported within 4 years of the tax year in which they arise.

Thank you, so if I'm understanding you correctly, it is perfectly fine to upload the evidence of capital gains losses for previous years as part of the current capital gains computation if I want to use or carry those losses forward (So long as they are within reported within 4 tax years)? And there's no need for me to write to HMRC to inform them of the losses? So if I had losses in 2020/2021, I'm still within the timeframe to include them in the 2023/2024 Capital Gains self assessment by January 31 2024 and use or carry them forward? Just want to be 100% that I don't need to explicitly write to HMRC and attaching the computations on the online self assessment is completely fine? Much appreciated, thank you :)

Hi Taxpayer402,
You might want to send your computations by post too in event you still have some unused losses to carry forward.
Thank you, 
 

Thank you, Is there a timeframe for sending them by post do I need to do this before completing the self assessment? Or Is it okay to do it around the same time before 31 Jan 2024? Just want to confirm that if I did this to report losses in 2020/2021 as well as attaching them to the self assessment, I wouldn't be exceeding the 4 year time frame to report them?

Hi
An individual has 4 years in which to report losses.  
Losses reported on a paper tax return, should be submitted by 31 October each year and 31 Janaury if submitted online.  
You have  2 years from the end of the 31 January deadline to amend your tax return and a further 2 years until the end of the tax year to claim the losses in writing(4 years in total).

Hello HMRC I had a capital loss of around £10,800 in the year of 2023/24 by selling some overseas shares while I made a small gain of around £360 by trading overseas stock options. According to what I read above, does it mean that I need not report anything this year in my self assessment and can wait to report in any tax year from 2024/25 to 2026/27 (4 tax years) to report if I eventually make some capital gains?

Hi,
As you have both losses and gains, in year losses must be used first, even if that means you lose out on the annual exempt amount. In order to then use the remaining losses at a later date, you will need to report them in 2023 to 2024.
Thank you.

Are there any circumstances when you can report CGT losses beyond 4 years after the end of the relevant tax year? I don’t fill in tax returns and made a significant loss on a property in October 2019 but didn’t realise I could have carried it forward.

Hi,
No, capital losses must be reported within 4 years of the tax year in which they arose in order for them to be used at a later date. For losses arising in October 2019, you had until 5 Apri 2024 to report them.
Thank you. 

Hello HMRC, I am unsure where exactly to declare these previous losses in the Self Assessment form given that I haven't had to file a self assessment until this year. Do I need to: a) File a late return for each of the previous years to declare losses b) Enter the amount of losses in "Losses available to be carried forward" (Capital Gains Tax Box 60) c) Declare the losses for each year in "Any other information" (Capital Gains Tax Box 76) d) Something else

Hi,
You will need to notify the losses in a letter prior to claiming them so that we know they are valid. This should be sent to:
HMRC,
PAYE & Self Assessment,
BX9 1AS
Thank you.

Hi HMRC, I have reported my losses for tax year 2020/2021 via letter to the address above. Do I have to wait for written acknowledgement from HMRC prior to utilising these losses in a self assessment for the current tax year? Does the self-assessment system show the available losses to be carried forward? If not, where should it be declared? Thank you

Hi I am a bit confused. 1. Comment by HMRC Admin 10 above states 'You can include them in the return as long as the losses are not more than 4 years old.' 2. Comment by HMRC Admin 19 above states 'You will need to notify the losses in a letter prior to claiming them so that we know they are valid'. Which one is true? I have realised that I had more capital gains losses in 2022/23 than I had reported. Can I just use the correct amount and show calculations for it while filing my 2023/24 self assessment to claim the correct amount of loss from that year?

Hi ,
 

You would normally need to wait so you should telephone 0300 200 3310 to ensure your letter has been received. There is a section within the capital gains section to show losses brought forward and used  . Thank you .

Hi pranavbhasin,
If you have filed a Self Assessment return without capital gains pages and then later  you want to report a capital loss, you also need to make a valid notification.
These notifications need to be made within 4 years from the end of the year the loss arose.
They must be made in writing and include all of the following points:
•    a declaration to the effect that all the particulars given in the claim are correctly stated to the best of the information and belief of the person making the claim,
•    details of the asset disposed of
•    quantification of the loss – this is most easily done with a computation showing the date of disposal, the amount of proceeds received, the allowable expenditure and the loss that results from the disposal.
•    signed by the individual making the claim
Further information can be found in:
Capital Gains Manual:
CG15800 - Losses: allowable losses
If no return required then you must follow the action with regards to a valid notification
Thank you.