UK tax losses · 2026/27
Made a loss? Put it to work on your tax.
A loss is only worth something to you if you claim it — in the right way, against the right income or gains, before the clock runs out. These guides explain how, in plain English, from HMRC’s own rules.
General information, not tax advice — your situation may differ, so check with HMRC or a qualified adviser. Independent: not affiliated with HMRC or the UK Government.
| Gains on shares sold this year | £14,000 |
|---|---|
| Loss on a fund sold this year | minus (£2,500) |
| Net gains | £11,500 |
| Losses brought forward — used | minus (£8,500) |
| Gains after losses | £3,000 |
| Annual exempt amount | minus (£3,000) |
| Taxable gains | £0 |
| Losses carried forward to next year | £500 |
| £9,000 of earlier losses were available; only £8,500 was needed to bring the gains down to the annual exempt amount, so £500 carries on. | |
An illustration using the 2026/27 annual exempt amount of £3,000. Try your own figures · How the order works
Next loss deadline 31 Jan 2027
Where a loss can go: back, forward, or both
Claim deadlines →Each kind of loss has its own route through the tax years. Capital and rental losses only move forward; trading losses can also go back — one year with sideways relief, three years at the start or end of a business.
The guides
All guides →A/C 01 Capital gains losses
Shares, funds, crypto, property and possessions sold or given away for less than they cost.
- 01Capital losses: what counts as an allowable loss2026/27
- 02How to claim a capital loss — and the 4-year time limit2026/27
- 03How capital losses are set against gains — and the annual exempt amount2026/27
- 04Losses on disposals to family and connected people2026/27
- 05Shares that have become worthless: negligible value claims2026/27
- 06Share loss relief: setting a loss on shares against income2026/27
- 07Cryptoasset losses2026/27
- 08Losses when you sell property — and the 60-day UK property return2026/27
A/C 02 Self-employed & partnership losses
When your trade or profession makes a loss: sideways relief, carry forward, carry back.
- 09Self-employed losses: your options at a glance2026/27
- 10Setting a trading loss against other income (sideways relief)2026/27
- 11Carrying a trading loss forward2026/27
- 12Early years loss relief: losses in the first four years2026/27
- 13Terminal loss relief when a business stops2026/27
- 14The cap on loss relief and other restrictions2026/27
- 15Losses under the cash basis2026/27
- 16Partnership losses2026/27
A/C 03 Rental property losses
Losses from letting UK property and how they are carried forward.
A/C 04 Company losses
Limited companies: carry forward, carry back and group relief — an overview.
A/C 05 Returns, deadlines & records
Self Assessment boxes, Making Tax Digital, amending a return, evidence and help.
Clocks running now
Check any tax year →The next loss-related time limits from today (1 November 2026), worked out from the rules in our guides.
Calculators
All →Key figures 2026/27
All figures →Common questions
All questions →Do I have to report a capital loss to HMRC?
There’s no penalty for not reporting a loss — but a loss you don’t report can’t be used. The law says a capital loss is only an allowable loss once you have given HMRC notice of it, with the amount, within 4 years of the end of the tax year.
Report it in the capital gains pages of your tax return, or by letter if you’re not in Self Assessment and have never made a gain.
How long do I have to claim a capital loss?
Up to 4 years after the end of the tax year in which you disposed of the asset. A loss made in 2026/27 (the tax year ending 5 April 2027) must be claimed by 5 April 2031. The deadline calculator gives the date for any year.
Will losses brought forward waste my annual exempt amount?
No. Losses brought forward from earlier years are only used to bring your gains down to the annual exempt amount (£3,000 in 2026/27) — the rest carries on. It is losses made in the same tax year that are set off in full, even if that takes your gains below the allowance. Try the set-off illustrator.
Can I carry a capital loss back to an earlier year?
Generally not — capital losses carry forward. The main exception is the tax year someone dies: losses that can’t be used in that year can be carried back against gains of the three previous tax years, latest first, only down to each year’s annual exempt amount.
The record-keeping shelf
Shop →HMRC can ask for evidence of a loss years later. A few things that make keeping it easier — via Amazon.co.uk.
- A4 expanding file organiser
Receipt & document organisersView on Amazon.co.uk - Annual UK tax guide (2026/27 edition)
UK tax guides & booksView on Amazon.co.uk - Desktop calculator with a large display
CalculatorsView on Amazon.co.uk - Fire-resistant document bag
Secure storage & shreddingView on Amazon.co.uk - Portable document scanner
Scanners & digital recordsView on Amazon.co.uk
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