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bigduckontax, Accountant
Category: Tax
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I sold a few properties a few years ago at a loss. One

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I sold a few properties a few years ago at a loss.
One was sold in July 2009, another in January 2010, and two others in 2011.
Can and how do I claim losses?
Thank you
, I'm Keith and happy to help you with your question.
You can claim the loss against any other capital gains made in the year of sale, but be careful not to waste your Annual Exempt Amount by offsetting too much of the brought forward loss.
Otherwise these losses can be carried forward indefinitely to absorb any capital gains in the indeterminate future.
You should have declared these losses in your annual self assessment tax return.
So sorry to have to rain on your parade.
Customer: replied 3 years ago.

Thank you. My losses are in the hundreds of thousand unfortunately, or fortunately depending how you look at it. I was made bankrupt in 2012 so never filled out a tax return. How many years can I go back to claim?

You will probably be OK, in tax terms it is very recent. Write a letter to your tax office explaining the situation. They may well ask you to self assess /10 et seq. Lay it on thick the problems you have had over the past few years.
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