Capital Gains Tax 58 - Losses brought forward and used in the year

Enter the amount of losses brought forward from earlier years which are used in the year. You also only use losses brought forward to reduce gains to the annual exempt amount, when due, for the year. For the 2020 to 2021 tax year the annual exempt amount is:

• £12,300 for individuals
• £6,150 for most trustees

You need to tell us about your loss within 4 years of the end of the tax year you made the loss in. The latest date to claim 2020 to 2021 losses is 5 April 2025.

Clogged losses brought forward can only be set against gains of certain types.

The most common type of clogged loss is a loss on disposal to a connected person. These losses can only be set against gains on disposals to the same connected person. The other clogged loss is a loss transferred to you after 15 June 1999 by trustees when you become absolutely entitled to settled property. These losses can only be set, and in priority to any other losses, against gains arising on the same asset, or an asset derived from that asset.