Capital Losses v Capital Gains

[unhappydisgustingWOW]

Just trying to understand how capital losses work...

If I make a capital loss of 4k, but in the same year make a capital gain of 12K, can I/should I declare the loss (can it be used to offset capital gains in future years)?

Also, in the above example my total gain for the year would be less than 10k, so am I right in thinking I don't have to declare it at all if I don't want to?

[TaxationPete]

Afraid not. Any cpaital loss in a FY has to be offset against the gain in that FY even if it under utilises you CG Allowance. Regards Peter

[unhappydisgustingWOW]

Thanks Pete, so only a true total loss for a year can be used to offset gains in future years?

Any ideas on the second part of the question?