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Step-by-step Guide

How do I offset Capital (CGT) losses?

Article ID: 2112
Last updated: 29 Mar, 2023

Any unused Capital Gains Tax losses from previous years that are carried forward have to be used against the first available capital gains. This means that you can reduce your capital gains to the yearly allowance amount (£12,300 in 2022-23) and carry forward the remaining losses.

TaxCalc does this automatically by applying the annual exempt amount and using the remaining balance against losses that have been brought forward. If there are then any losses remaining, TaxCalc carries these forward and imports them onto next year’s return.

You can read more about what do if you make a loss on the HMRC website.

The following table shows the annual exemption amounts for Capital Gains Tax for previous years. 

Tax year

Individual return exemption

Trust return exemption

2022-23 £12,300 £6,150
2021-22 £12,300 £6,150

2020-21

£12,300 £6,150

2019-20

£12,000 £6,000

2018 -19

£11,700

£5,850

2017 -18

£11,300

£5,650

2016 -17

£11,100

£5,550

2015–16

£11,100

£5,550 

2014–15

£11,000

£5,500 

2013–14

£10,900

£5,450

2012–13

£10,600

£5,300

2011–12

£10,600

£5,300 

2010–11

£10,100

£5,050

2009–10

£10,100

£5,050

2008–09

£9,600

£4,800

2007–08

£9,200

£4,600

2006–07

£8,800

£4,400

2005–06

£8,500

£4,250

2004–05

£8,200 

£4,100

Article ID: 2112
Last updated: 29 Mar, 2023
Revision: 18
Views: 20701
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folder Tax Return Production -> SA100 Individual Return