Lose some, win some: offsetting a capital loss against a capital gain

Q&A: Dominic Coyle answers your personal finance questions

“I made a loss on a foreign property. Am I right that I can set the amount off against future gains?” Image: iStock

“I made a loss on a foreign property. Am I right that I can set the amount off against future gains?” Image: iStock

Question

I made a loss on a foreign property a number of years ago. The property was declared and fully compliant with Revenue. At the time of disposal I declared the loss in my annual tax return.

Am I right to understand that I can set the amount off against future gains, as I hope to have some profits on an employee-leveraged share scheme where the gains are subject to capital gains tax.

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