Can capital Gains Tax be written off against a loss?

[pimkgin]

I am selling a buy to let property in Bulgaria at a 50% loss . I also have a BTL property in Dublin which is in profit , if I Sell the house in Dublin can I claim the Bulgaria loss against the C. G. T due on the Dublin house profit.

 

[Brendan Burgess]

I know nothing about the Bulgarian CGT regime, but as you are selling at a loss, presumably you have no liability over there.

If you make a loss on disposal of an asset, you can carry the loss forward indefinitely against capital profits made on the sale of other assets.

You can't carry losses backwards. So you sell the Bulgarian property in the same year you sell the Irish property, or before it, but not after it.

 

[pimkgin]

thanks Brendan