Capital losses in year of death
In the year of death, capital losses receive special treatment under tax rules. You'll learn how to carry back losses to the three preceding years on a last-in-first-out basis and offset them against net chargeable gains—crucially, after the annual exemption has been claimed.
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In this lesson
- 0:00 Capital losses in year of death
- 0:06 Carrying back losses three years
- 0:21 Offsetting losses after annual exemption
- 0:34 CGT repayment to death estate
About this lesson
This means the exemption isn't wasted and can generate a CGT repayment that flows into the death estate. This is a key exception to the normal rule that capital losses cannot be carried back, and it's essential knowledge for TX (Taxation) and ATX (Advanced Taxation) papers when handling deceased taxpayer estates.
Duration: 1m
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