SQE1 sample questions

Question 66

A woman does not make any disposals for Capital Gains Tax (CGT) purposes in the 2023/24 tax year. She made £2,000 losses for CGT purposes in the 2022/23 tax year.

Which of the following statements best describes the woman’s CGT position?

A. She can carry forward both her £2,000 losses and her 2023/24 annual exemption indefinitely until she has an opportunity to use them.

B. She can carry forward her £2,000 losses indefinitely until she has an opportunity to use them and can carry forward her 2023/24 annual exemption to 2024/25 only.

C. She can carry forward her £2,000 losses to 2024/25 only and can carry forward her 2023/24 annual exemption indefinitely until she has an opportunity to use it.

D. She can carry forward her £2,000 losses to the 2024/25 tax year only and cannot carry forward her 2023/24 annual exemption at all.

E. She can carry forward her £2,000 losses indefinitely until she has an opportunity to use them and cannot carry forward her 2023/24 annual exemption at all.


E - She can carry forward her £2,000 losses indefinitely until she has an opportunity to use them and cannot carry forward her 2023/24 annual exemption at all.


 

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