RE: Tax question14 Apr 2026 13:46
This from AI response, I would also talk to your FA though as CGT only becomes payable/losses realises on the sale of the related asset .... so yes if you physically sold a & b for equal profit/loss no CGT should be payable ... but as I said talk to your FA & more importantly don't take ANYTHING posted by ANYONE on these boards with anything other than a pinch of salt π
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Yes, you can offset losses against profits (capital gains) in a share account to reduce your tax liability. If your total losses exceed your gains in a tax year, you can carry forward the remaining losses to offset against future capital gains. Losses must generally be reported to HMRC within four years.
Key Details on Offsetting Share Losses
Offsetting Gains: Capital losses on shares can be deducted from capital gains made in the same tax year.
Carrying Forward: If losses exceed gains, the excess can be carried forward indefinitely to offset future capital gains.
Reporting: You must report losses to HMRC (via Self Assessment) to use them.
Income Tax Exception: Generally, capital losses from listed shares cannot be offset against income, only against other capital gains.