Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Thu, 19 Dec 2024 15:34:21 GMT by PJ MC
In the 23/24 tax year I sold various shares. Some made gains and some made small losses, which I wished to be deducted from the capital gains on which tax was payable. All the shares were listed. I filled in the relevant boxes declaring number of disposals, total gains (before losses) and then total losses in Box 27. I also provided detailed additional information about all the sales, gains and losses on a separate sheet. I thought that was sufficient for HMRC to deduct the losses in box 27 from the total taxable gains, but was subsequently told that I should also have put the losses in Box 46 if I wanted HMRC to deduct them from the taxable gains made in the same year. Is that correct? I am retired so have no earnings and my only other income is from a SIPP and dividends. I would like to make sure that any future losses are deducted from any taxable gains but don't want to put the losses from Box 27 in Box 46 if that is for something else.
Posted Sat, 04 Jan 2025 15:32:49 GMT by PJ MC
WarningThis post is currently being moderated and will be visible when it has been approved by a HMRC moderator.
Posted Tue, 07 Jan 2025 11:36:28 GMT by HMRC Admin 19 Response
Hi,
Box 46 is only for other trading losses that can be used after setting off in year capital losses, so if you only have the in year losses, box 46 should be left blank.
Thank you.
Posted Wed, 08 Jan 2025 10:11:05 GMT by PJ MC
WarningThis post is currently being moderated and will be visible when it has been approved by a HMRC moderator.

You must be signed in to post in this forum.