CGT (loss) on previous residence

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    CGT (loss) on previous residence

    I sold a house that I previously lived in for a few years, and then subsequently let out for 2 years, before selling (within the third year) of moving out.

    I made a loss on both the original purchase price of the house (irrelevant ...probably), and an approximate loss of £5K (before solicitors and estate agents fees) on what the house was worth at the time we turned it into a letting 'business'.

    Because I sold it within 3 years of moving out, I believe there is Private Residence Relief from CGT....

    What I want to know is
    1) Because I sold it within 3 years, and am entitled to Private Residence Relief, can I still claim a loss?
    2) Is there any point in claiming a loss (if I can), given that:
    -- We have no other properties let out
    -- I have no other capital gains that I can foresee (in the next 5-10 years at least) anyway
    -- The 2012-2013 tax return is likely to be the last I fill in for a few years at least

    Also, would a loss carry over automatically (indefinitely) without me filling in a Self Assessment Tax Return each year?

    Rather than a Loss (for CGT), you have no gain, as it is fully exempt via PPR relief.


      Thanks for that. It's 1 less thing to think about!




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