I sold a rental property at a £7,000 capital loss three years ago. I have just sold a second rental property with a £10,000 gain. Can the previous loss be offset against this tax year's gain? 

Arthur Weller replies: 

In principle, yes. However, see HMRC’s Capital Gains Manual at CG15800, which states: ‘A capital loss will be allowable only if it is notified within the normal time limit for claims’ (i.e., within four years). HMRC’s guidance adds: ‘There is no specific claim form. In practice, the notice may be the inclusion of details of the loss within a person’s tax return’.