Before I discuss this with my accountant does anyone have the answer to the following question.
If an individual is a tax resident in the UK and sells a holiday home in Spain for a capital loss can the loss be offset against capital gains made in the U.K.?
UK CGT
Re: UK CGT
For something as important as that I would ask my accountant.
I guess you have a business if you are using an accountant. Is the home that sustained the capital loss part of that business. If not i would say no to your original question.
I guess you have a business if you are using an accountant. Is the home that sustained the capital loss part of that business. If not i would say no to your original question.
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- Andalucia.com Amigo
- Posts: 198
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- Location: Wirral, Merseyside and Alcaucin, Spain
Re: UK CGT
Thanks for the reply Costakid.
In answer to your questions I used to have businesses but am now retired. I still use the same accountant as when I worked for a living! The property was never connected to the businesses, just a bolt hole for a bit of r and r.
In answer to your questions I used to have businesses but am now retired. I still use the same accountant as when I worked for a living! The property was never connected to the businesses, just a bolt hole for a bit of r and r.
Re: UK CGT
Ring HMRC and ask them.
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