This is probably a stupid question. I just got a letter telling me I have 26,000 in capital losses split over 2011 and 2016 - a result of an inability to recover a settlement debt. I don’t have any capital gains to set them off against. Should I be doing anything to try to use these losses. I’m a bit perplexed by the auditors’ letter.
Back up the bus. Got a letter from whom?
The auditors I’m guessing...
As in Revenue auditors? Strange scenario... you keep guessing, I'll wait for OP to give some hard juicy facts.
There was a bad investment made a few years ago. The partnership successfully pursued the brokers for misselling, but the brokers went bust resulting in a capital loss. I have some money exiting the partnership which I was going to use against my mortgage. Now I think I should consider my options as this capital loss could be used against a gain. That’s as far as I got with my thinking.
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