If the holding yields a loss at sale can that loss be used to offset other domestic income (taxable pension and/or self employment income), or other domestic based capital gains, or is the loss simply ignored?
i.e. I'm having difficulty interpreting ...
https://www.gov.uk/hmrc-internal-manual ... s/ifm13550
IFM13550 - Offshore Funds: investors in non-reporting funds: computation of offshore income gain: losses
Regulation 42 of SI 2009/3001
If, the ‘basic gain’ (calculated under regulations 39 to 41) arising on the disposal of an interest in an offshore fund produces a loss, then the basic gain arising on the disposal is treated as nil. This means that, for the purposes of the regulations, no loss is to be treated as arising on a disposal and that any loss arising can be relieved only as a capital loss. The effect of this is that the capital loss cannot be offset against offshore income gains of the same or of a later period.