November 21, 2024
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Capital Gains and losses?
The current annual capital gains exempt amount is £3,000.
However, we may see this alter in the October budget. Be aware that if you realise gains and losses in the same tax year, losses will be offset against gains before the exempt amount is applied. So if gains are covered by the exemption, losses could be wasted.
Consider deferring losses to a future tax year or realise extra gains in the current ta year to make full use of losses.
Please contact us if you would like us to look into this further with you.
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