Lost Money on an Investment? You Have 4 Years to Tell HMRC

If you dispose of investments at a loss, reporting an allowable capital gains tax loss can allow that loss to be used against future gains indefinitely. But HMRC generally gives you 4 tax years from the end of the relevant tax year to notify an unreported loss. Once properly claimed, unused losses can be carried forward indefinitely. But if you miss the window to establish the loss and report it, you lose a valuable tax asset. You can't use it again. That's why I don't think that tax efficiency should be something you think about just once a year in January. It needs a system. It needs an approach. Is that important? Well, I'm running the Doctor's Tax X-ray Workshop. If you comment X-ray, I'll send you the details.