I am dealing with an 18-25 trust that came to an end when the youngest beneficiary turned 21 years old. The investments are all being transferred to the beneficiary. Gains and losses are being included in the final trust tax return based on their market values on the termination date. Two investments have sizeable gains for which hold-over relief will be claimed to avoid a large CGT charge on the trust. A third investment has a sizeable loss which is much smaller than the two largest gains but overwhelms the combined net gains on all the other investments. Is it possible to claim a clogged loss on this excess loss (thus passing it on to the beneficiary) as well as holdover relief on the largest two gains?