1222 - Total gains after losses but before the annual exempt amount

Usually, the figure to be entered will be the total gains in the year minus the total losses of the year and losses brought forward (and used in the year).

There are restrictions on the deduction of some losses, known as clogged losses. 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 by trustees when you become absolutely entitled to settled property.

For further guidance and information, please see the Capital Gains Summary Notes (PDF 127K)

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