Can anyone clarify whether I can use a capital loss on selling shares against a gain on selling a rental property (that's never been my PPR)?
If it's possible, how do I report it to HMRC when the CGT on the property sale has to be paid within 30 days but the gains or losses on share sales won't be known until the end of the tax year? I think I'm required to create a "CGT on UK Property account" with HMRC but not having one yet, I don't know if they will take my CGT allowance into account or not at this time.
I'm hoping the tax on the sale of property is a "payment on account" part of which will be refunded if I incur a loss on investments.
I'd be very grateful for any information about this.
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CGT on property offset by loss on investments
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- Lemon Pip
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