Capital Gains Tax 04 - Are losses deducted?

If losses are deducted from your chargeable gains, choose 'Yes', otherwise, choose 'No'.

If you have allowable capital losses for the tax year 6 April 2020 to 5 April 2021 these are usually deducted from your total allowable gains. Allowable losses brought forward are then deducted, for example, 'used', but only to the extent necessary to reduce your gains, to £12,300, 'annual exempt amount'.

For more information go to Self Assessment: Capital gains summary (SA108).