offset share losses against PAYE in SA rtn?

[squivy]

Hi All,
unfortunately made some losses on my shares this tax year. How can I offset the loss against my PAYE or other tax in my SA return please?

Cheers

[Hex]

Losses on shares come under capital gains. If you have made other capital gains during the year and they exceed your yearly tax free capital gains allowance (which is around £8,000) then you can offset your loss against the gains. If this isn't the case, then the loss is of no real use to you and there's no point in declaring it on your sa return.

All in my opinion. IANAA.

[tim123]

Losses on shares come under capital gains. If you have made other capital gains during the year and they exceed your yearly tax free capital gains allowance (which is around £8,000) then you can offset your loss against the gains. If this isn't the case, then the loss is of no real use to you and there's no point in declaring it on your sa return.

All in my opinion. IANAA.

If you have made no gains at all this year you can put it on your SA and carry it forward until you do make a gain.

If you have made gains which are more than the losses, but less than the 8K allowance then as above it is no use to you. Only the aggregated loss can be carried forward.

tim