For a gain or loss to be within the scope of tax on chargeable gains, there must be a chargeable disposal of a chargeable asset by a chargeable person. See C1.104, C1.103 and C1.102 respectively.
Individuals, trustees and personal representatives are subject to capital gains tax on chargeable gains. Companies are subject to corporation tax on chargeable gains. See C1.102.
This article discusses the requirement to notify allowable capital losses to HMRC in order to obtain tax relief. For the computation of chargeable gains and losses, see C1.105.
For an overview of allowable capital losses, see C1.106.
Requirement to notify capital losses to HMRC in order to claim tax relief
Any allowable capital loss has to be notified to HMRC1 as if it were a claim that has to be submitted within four years after the end of the tax year
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