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crystalise loss to reduce CGT

  • 09-03-2010 8:31pm
    #1
    uberwolf
    Registered Users, Registered Users 2 Posts: 7,581 ✭✭✭


    I've a gain to offset, and an abundance of HBOS shares, now Lloyds. I specify the share due to the mechanics of the merger and impact that may have on my question.

    Can I crystallise my loss without selling the shares? Like setting a new base price?


Comments

  • #2
    gizmo555
    Closed Accounts Posts: 2,948 ✭✭✭gizmo555


    uberwolf wrote: »
    Can I crystallise my loss without selling the shares? Like setting a new base price?

    No.

    You have to sell them to create the tax loss. Possibly more importantly, depending on whether you want to hold the Lloyds shares for the long term, if you buy them back within four weeks, you cannot offset the loss created against gains in anything except the Lloyds shares themselves.

    That's my understanding anyway, but if the sums involved are significant, best get expert tax advice tailored to your situation.


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