Capital Gains Tax 60 - Losses available to be carried forward to later years

Enter the total of all unused allowable losses you have available from the year and earlier years, to be carried forward to later years. Include any unused clogged losses. To ensure they're correctly used in future years keep a separate record of each of your unused clogged losses. You should also keep separate records of both unused losses claimed for 1996 to 1997 and later years and for 1995 to 1996 and earlier years. Losses for 1996 to 1997 and later years must be used first.

A loss arising on a disposal of an asset which is exempt from Capital Gains Tax will not usually be an allowable loss.

Clogged losses can only be set against gains of certain types. The most common type of clogged loss is a loss on a disposal to a 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.