Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Investments definition

What does Investments mean? In practice, investments are financial products or rights acquired with the expectation of income or capital growth, such as shares, bonds, fund units and derivatives. In UK financial services law, however, the regulated concept is “specified investments” under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) (RAO). This defined list includes, among others, shares, debentures and loan stock, government and public securities, warrants, units in a collective investment scheme, options and futures, contracts for differences, and rights under a contract of insurance. Whether a firm must be authorised, may communicate financial promotions, or owes particular...

UK Capital Gains Tax: Utilising and prioritising capital losses—special categories, income conversion, connected persons, trusts, earn-outs, non-resident rules, remittance basis abolition, and year-end actions

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Practice notes

Why capital losses are important

The CGT bill is worked out by totalling all chargeable gains arising to the taxpayer in a tax year and then deducting any allowable losses for that individual. Losses realised during the year are ordinarily offset against gains made in that same year, thereby lowering the amount of gains exposed to tax for that period under the statutory rules in force for CGT. Where they are not used in this manner, such losses are typically carried forward to relieve the next available gains of later tax years. That said, particular situations can mean those losses are blocked, limited, taken back to earlier years, or, in some cases, treated as if they were income tax losses (see below). If a taxpayer faces more than one CGT rate within a single year, they may decide which gains are reduced by their capital losses so that their overall liability is kept to a minimum. Where a claim is made to defer chargeable gains of an earlier year, the pattern of loss utilisation can be disrupted, with potential knock-on effects across multiple subsequent tax years...

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Web page updated on 27/05/2026

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