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Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5115
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
Type Your Tax Question Here... is online now

I lead a group within the U3A at Watford Herts. and the question

Customer Question

I lead a group within the U3A at Watford Herts. and the question with regard to registering losses on share sales to get allowances against sale profits has been discussed without a definitive answer. I have asked a broker without success. Is it possible to get a speaker to address our group?
Submitted: 4 years ago.
Category: Tax
Expert: replied 4 years ago.

Hello and welcome to the site. Thank you for your question.

We are tax experts here and only answer questions through this site. If you wish to talk to your Group at the next meeting and then come with specific questions, one of the experts will be able to help you.


You can reply to this posting and your question/information will be retained.

many thanks

Customer: replied 4 years ago.

Will the 33 pounds just paid cover the February Query?

Expert: replied 4 years ago.
Philip, your payment will cover the question as long as it remains open.

If you need an answer on losses on sale of shares and how they can be offset in general terms, I can provide that answer here.. please let me know

Many thanks
Customer: replied 4 years ago.

I would like your answer based on the one month charge of 33 pounds.

Customer: replied 4 years ago.

There seems to be some trouble with my email address as it seems to be registered to someone else and my entry is not being accepted even tho your answers seem to be coming through.


I do want the information re the offsetting of losses on shares against profitss on share sales,please.

Expert: replied 4 years ago.
Philip, thank you for your reply.

In general terms, if you sell shares in a tax year and these sales have resulted in a combination of realised gains and losses, then you can offset the losses aginst the gains and the net posttion is reported on your tax return.

If it results in an overall gain, then you claim you annual exempt amount against it and the balance is chargeable to CGT at 18%, 28% or a combination of both depending on your total taxable income in the year.

If there is a net loss, then you still report the loss to HMRC for it to become an allowable loss for offset against gains in future years.
More information on how to claim a loss and the time limits for claiming are covered here

If you are investing in shares as an investment club, the individual member is charged to tax on their proportionate share of any gains and is entitled to relief in respect of any share of capital losses.

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.