This discussion addresses the challenge of reporting capital gains and losses quarterly, especially when long-term gains occur before July 23rd and short-term losses after. The user needs to show a net gain of £5.75 lakh but is unsure how to handle quarterly figures, as negative amounts aren't permitted in schedules. The advice suggests declaring gains quarterly as earned (net of losses) and adjusting negative figures in preceding quarters.
05 August 2025
Generally gain in each quarter is declared as it is earned (net after loss). In case the figure is negative in any quarter it is adjusted in preceding quarter. Say the loss is in last quarter (negative figure) reduce the amount from third quarter...