Carrying Forward Tax Losses (Shares) to offset CGT (Shares)

[ujio]

I've been researching for some time now but so far haven't been able to knuckle down a definitive answer.

Back in 2009-2012 I was buying and selling shares but overall, Gecko over here managed to make some sizeable losses.
However, the buy and hold tactic since then seems (for now!) to have paid off and if I were to cash out my holdings in this toppy market I will be liable for CGT.

Question is, can I offset my losses from almost 7 years ago to bring me under the CGT if I were to cash out my current holdings?
Does the HMRC allow to carry forward indefinitely or is there a strict time period allowed?

[Simpo Two]

I thought it was only one year, two at max, but stand to be corrected.

[trickywoo]

Can't be offset. The best thing is to take a bath annually to use the cgt allowance.

[Simpo Two]

Get an 'IFA' to select a low volatility portfolio for you, you know, the safe '4% year on year' kind for people living on their savings. One investment will double, the other will halve. Sack him for being useless then sort it out yourself. That's how I did it

[db10]

Are you in the uk?

If you made a capital loss and reported it on your tax return the losses is available indefinitely.

[ujio]

Thanks for all your replies guys. Very helpful.

Yes I am in the uk, and no unfortunately I did not report as losses in tax return (I'm a lowly paye).

I think the best thing to do is probably cash out just under the cgt for this year and hope the market doesn't tank for next (which of course it will 😉)

[Simpo Two]

db10 said:

If you made a capital loss and reported it on your tax return the losses is available indefinitely.

Presumably to do that you'd have to sell the stock and so actually take the loss - when normally you'd hang on for improvement.