Offestting CGT Losses

Downup

Registered User
Messages
9
I have CGT losses carried forward - incurred on Irish shares. Can I offset capital losses on UK 'with profits bond' against these CGT losses?
 
I wouldn't think so - it sounds like an assurance type of product subject to exit tax but you would need to post more details about the product to get a definite answer
 
The specific question refers to an Equitable Life with-profits bond - which was a life assurance type bond. I cashed it in a few months ago - received the full exit value with no exit tax deducted. I was presuming/hoping I could offset the capital gain on this against carried fwd losses on shares
 
Oops! I just see I said in my first post that I has Capital losses on the UK bond - that should be Capital Gains of course!
 
No, you cannot set-off anything against the gain on the life assurance type bond.
 
Many thanks jpd for your info. Not what I wanted to hear but best to face reality!
 
Back
Top