Commentary

C1.503 Interaction between CGT losses and annual exempt amount

Capital gains tax
Capital gains tax | Commentary

C1.503 Interaction between CGT losses and annual exempt amount

Capital gains tax | Commentary

C1.503 Interaction between CGT losses and annual exempt amount

An individual is not subject to capital gains tax on chargeable gains that do not exceed the exempt amount for the year (the AEA)1. The current year chargeable gains are reduced by any current year allowable losses before deduction of the AEA2. Where an individual has gains taxable at more than one tax rate (see C1.107) the losses may be deducted from gains, and the AEA may be used in respect of those gains, in the most beneficial way to limit the tax charge. This is subject to any provision which

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