Can i offset losses against gains

When you save your YouTube cookies choice below, Revenue will save a cookie on your device to remember your choice. This Revenue cookie is set as a session cookie and will be deleted once you close this browsing session. YouTube may set cookies directly according to YouTube's own cookies policy. You might make a loss when you dispose of an asset.

You can deduct an allowable loss from any chargeable gains you make in the same tax year. This can include losses on the disposal of foreign property. A loss on the disposal of development land can only be set against a gain on the disposal of development land. You might not have any chargeable gains in the same tax year you have made a loss.

In this case, you will not have to include the loss in a return for that tax year. You will be able to carry forward the losses. This means you can use them against capital gain you make in later years. You need to include the carried-forward loss in your calculation of CGT for the later year.

You also enter the carried-forward loss on the CGT return form for the later year. You, and your spouse or civil partner, can make an application that this should not apply.

This application must be made on or before 1 April in the following year. Send the request:. Losses cannot be set against gains for earlier years except where those losses are made in the year of death. Home energy upgrades are now more important than ever. Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.

The account details entered are not currently associated with an Irish Times subscription. Please subscribe to sign in to comment. You should receive instructions for resetting your password. When you have reset your password, you can Sign In. Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards. Screen Name Selection. Only letters, numbers, periods and hyphens are allowed in screen names.

Please enter your email address so we can send you a link to reset your password. Your Comments. Sign In Sign Out. We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Standards. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or by filling out this form.

New comments are only accepted for 3 days from the date of publication. Home Money and tax Capital Gains Tax. Capital Gains Tax. Print entire guide. Brexit Check what you need to do. Explore the topic Capital Gains Tax. Is this page useful? Maybe Yes this page is useful No this page is not useful. Thank you for your feedback. Report a problem with this page. What were you doing?