Collectives special: Assessing clients' CGT position in the event of a loss

Although it can make for an unhappy client if capital losses have been made, one saving grace is that those losses can be carried forward and offset against future capital gains. In order to use carry forward, the losses must be registered with HMRC within four years of the end of the tax year in which they were made. Once registered, there is no time limit for when they must be used. Therefore, if the loss is made in 2012/2013, the claim must be made by 5 April 2017. Gains and losses are calculated in exactly the same way. The taxpayer can claim a loss via their tax return or by w...