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Can I set off income losses against Gains?

Put the amount of any allowable trading losses that you want to set against chargeable gains in box 16. This should be the lower of:

• the total losses you can claim

• the amount required (after setting off capital losses for the year) to reduce the gain to zero

 

  • Click on the CAPITAL GAINS PAGE

 

  • Click ADD GAIN

 

  • Select LOSSES from the drop down list

 

 

  • Enter the amount you wish to set off a Gain 

 

  • Click SAVE

 

The friendly way to do your taxes online.

SimpleTax automatically tells you what expenses you should be claiming, what you should watch out for and ways to lower your tax bill.

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