CGT: Offset crypto loss against property gain

Hi,

If i make a gain on disposal of property at end of 2020 and a loss on disposal of crypto assets in 2021 - can I offset the loss against the gain?

I have not yet done my retur for 2020 gain as its due in Oct and I have not yet paid the amount owed.

As they are in different years does this mean I cannot use the loss against the gain?

Thank you.

No, you can't set a capital loss backwards.

You can set the crypto loss against other gains this year or carry it forward to future years.

Brendan

ArthurMcB said:

I have not yet paid the amount owed.

Click to expand...

You should have paid the preliminary tax in January and then do the return in October November.

You should sort this out immediately.

Brendan

Thanks Brendan.

When to pay your CGT​

For disposals made between:

• 1 January and 30 November (the initial period), you must pay CGT by 15 December of the same year.
• 1 December and 31 December (the later period), you must pay CGT by 31 January of the next year.