Can I claim unused CGT for previous years?

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Can I claim unused CGT for previous years?

Question

I understand that there is a capital gains tax allowance of about £8,000, but I was told that you can claim an allowance for previous years. Is this so, and how does it work?

 

Arthur Says

You have been misinformed. It is not possible to claim capital gains tax allowances for previous years. You are only able to use the CGT allowance of the current year. If you fail to make use of it and the tax year changes then you can only use the allowance in the current year.

 

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