capital gains question based on sales of shares.

In a portifilio of a friends shares , he has some he has made money on , some he has lost money on.....he has not used any of his capital gains allowance this year but needs to sell them in the next week for a house deposit , he has 33k in shares , some he paid for example 1200 for shares in 1 company , but the shares are now valued at say 800 , but of course on the flip side he has some shares he has bought for 1200 and there worth

2000.00 , he has done no bed and breakfast around april time or what ever they call it these days on any of the shares , he's held them all for around 5 years......so does a loss on one group of shares balance out the gain on another group of shares ? thus hopefully , based on his calculations of winners and losers , if the loser balance the winners etc , he will have not gone over his i believe 7k capital gains allowance (or is it more these days ???)

can anyone shed some light on this please.......

Reply to
Just Wondering
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A "friend", eh? "Mummy," (says 16-year-old daughter) "this friend of mine has gone and got herself pregnant, what do think she should do?"

Yes, losses do balance out gains. But they have to be realised. And yes, it's nearer 9k than 7k these days.

Reply to
Ronald Raygun

when you say realised? do you mean sold ? you just lost me on that part...

Reply to
Just Wondering

Yes. In other words, you can't sell some shares you made say 10k profit on, and then say 'but I lost 10k on these other shares that I am hanging onto for the time being, so it cancels out. You actually have to sell those as well. But I think thats what you meant in the first place?

Reply to
Tumbleweed

Thank you yes thats what i ment.

Much appericated.

Reply to
Just Wondering

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