This month's exclusive Accountancy Daily CPD module acts as a guide to the effective use of capital losses, covering what losses are allowable, their restrictions, tax efficiency and more
An allowable loss has to be notified to HMRC and quantified (TCGA 1992, s. 16(2A)). It must be notified no more than four years after the end of the tax year to which it relates.
There is no special form to use but in practice it can be notified in the self-assessment return for the year the loss arises. It can be quantified by including a computation of the loss (CG 21500).
By completing this module on capital gains tax losses, you will be able to:
- identify and claim allowable losses;
- use losses in a tax-efficient manner;
- be aware of restrictions on use of losses; and
- understand the anti-avoidance rules that apply to capital losses.
This CPD module takes 20 minutes to complete and is followed by a short quiz to ensure thorough learning. There are also detailed course notes to ensure a full learning experience. Any CPD learning is also automatically added to Your CPD Tracker.
The CPD course lecturer is Stephanie Webber ACA CTA, tax writer at Croner-i.
Play the CPD module here
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