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HMRC internal manual

Capital Gains Manual

Introduction and computation: annual exempt amount: exploitation of annual exempt amount: Annual exempt amount: example


The exempt amount for 2014-15 is £11,000.

C has gains of £13,000 and losses of £3,500 brought forward from earlier years.

The taxable amount, see CG18031, is:

Gains 13,000
Losses 2,000
Taxable amount which is covered by the exemption 11,000

The losses carried forward are:

Losses brought forward 3,500
Used in the year 2,000
Losses carried forward 1,500