Capital Loss - can it be carried forward and for how long?

Mm seriously considering selling a property (if possible!) cheaper than the price I've paid for it. Have checked through all the posts on CGT but cannot find much relating to Capital Loss.

My question is this: If I were to sell the house at a loss of say 50k (and the dreaded stamp duty but will have to forget about that), is this allowable against tax on all income or is it only allowable against capital gains - ie is capital gains a tax class all of it's own?

If this is the case, how long would I be able to carry forward this loss?

Replies much appreciated.
Many thanks

It is allowable capital gains in the future and there is no time limit on using it.

If the property was ever your PPR, that proportion of the loss that relates to the time when it was your PPR will be lost.

Remember that stamp duty forms part of the original cost of the property and so is taken into account in computing your loss.

Thanks Nige, very helpful post. Bought it last July for 620k + 46 odd stamp duty and then spent 25k doing it up. Kept old PPR with the intention of renting it out but now feel that it might be better to offload new one at a loss in the hope of clearing most of the borrowings as I'm worried about values falling ever further. Reckon I might be lucky to get 570 or so for it now.
Does this sound like a sensible plan to you - or am I mad accepting what may very well be a 100k loss or more?

Mel, I've no idea what you should do. But, is it likely that you could get a good rent for the property?

Could probably rent it alright but I suppose am more concenred about being heavily borrowed in the current climate with rising interest rates and falling prices - essentially I'm a wuss!!!!