Anyone understand bed & breakfast 30 days rule for share dealing? - HotUKDeals
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Anyone understand bed & breakfast 30 days rule for share dealing?

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Bought 31.1.2014 , sold 21.2.2014 bought 50K sold for 53K Then I bought same shares on 13.3.2014, sold 20.3.2014 bought 8K sold for £7,890 How does capital gains work for this under bed & brea… Read More
mutley1 Avatar
2y, 7m agoPosted 2 years, 7 months ago
Bought 31.1.2014 , sold 21.2.2014
bought 50K sold for 53K

Then I bought same shares on 13.3.2014, sold 20.3.2014
bought 8K sold for £7,890

How does capital gains work for this under bed & breakfast rule?
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mutley1 Avatar
2y, 7m agoPosted 2 years, 7 months ago
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Best Answer
I know what the answer is now.

In short it matches shares sold with those that are purchased within 30 days of sale first for the cost of the shares rather than using the actual shares bought originally.

Makes the capital gain bloody complicated if you have been buying and selling all over the place like i have. i am gonna try to avoid being caught by this 30 day rule as it is a nightmare for the tax return.

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#1
Hey mutley havn't dealt in shares for a while now but found this link
http://wiki.timetotrade.eu/Share_Identification_Rules
hope this helps
#2
archer1204
Hey mutley havn't dealt in shares for a while now but found this link
http://wiki.timetotrade.eu/Share_Identification_Rules
hope this helps

yeah, saw that but it doesn't look simple. was hoping someone could just tell me the answer specific to my transactions. :)
#3
mutley1
archer1204
Hey mutley havn't dealt in shares for a while now but found this link
http://wiki.timetotrade.eu/Share_Identification_Rules
hope this helps

yeah, saw that but it doesn't look simple. was hoping someone could just tell me the answer specific to my transactions. :)
What are your exact questions you want at answering

Edited By: archer1204 on Nov 30, 2014 21:20
#4
Sorry tired just woke up after my night shift so excuse spelling or making sense just trying to help you
#5
archer1204
Sorry tired just woke up after my night shift so excuse spelling or making sense just trying to help you

i don't think that the answer is simply

gain 1 = 53K - 50K = 3K
loss 2 = £7,890 - £8,000 = £110
total gain = 3K - £110 = £2,890 ?
#6
Mutley you are either a fantasist or a very lucky amateur . To be honest (in reply to your earlier posts ) being lucky in the market is more important than any charts or theories . If you are buying and selling in the stock market without understanding really how it works you should take your gains and run - rather like gambling it can take over you after a few gains .
I like a gamble on the Stock Market , as if you pick a duff one you only lose part of your stake, but when I pick a winner I take the profit and run .
#7
The main rule with shares is only use money that you can afford to lose if you cant afford to lose the money then dont buy shares
#8
You can earn about £11k pa before you pay CGT so you have nothing to pay

Your text here

Edited By: tallpete33 on Dec 01, 2014 04:32
#9
tallpete33
You can earn about £11k pa before you pay CGT so you have nothing to pay

Your text here

i know that. i need to work out how to calculate the capital gains that i have made from my transactions for my tax return. Calling HMRC would mean a long queue.
#10
rogparki
Mutley you are either a fantasist or a very lucky amateur . To be honest (in reply to your earlier posts ) being lucky in the market is more important than any charts or theories . If you are buying and selling in the stock market without understanding really how it works you should take your gains and run - rather like gambling it can take over you after a few gains .
I like a gamble on the Stock Market , as if you pick a duff one you only lose part of your stake, but when I pick a winner I take the profit and run .

i know how it works thank you for your useless contribution. i already got the profit in me hand!
i need to calculate the gains in accordance with HMRC requirements for bed and breakfast for my tax return. if you don't know anything about share dealing tax, you are no good to me.
#11
archer1204
mutley1
tallpete33
You can earn about £11k pa before you pay CGT so you have nothing to pay

Your text here

i know that. i need to work out how to calculate the capital gains that i have made from my transactions for my tax return. Calling HMRC would mean a long queue.
Realistically i dont want to know exactly how much but do you think you have made over 11k in profit this year dealing in shares if you havn't then you dont have to contact anyone.

yes you do. even if your gains is less than the allowance you still need to declare it in your tax returns if the sale proceeds exceed £43,600 for the tax year 2013-14.
#12
If you know everything, why keep asking questions on here . . . ?
#13
tallpete33
If you know everything, why keep asking questions on here . . . ?

i didn't say i knew everything, i said i knew what some idiots on here pretend to preach.
anyone who says that they know everything is a fool and a tool.
#14
I know what the answer is now.

In short it matches shares sold with those that are purchased within 30 days of sale first for the cost of the shares rather than using the actual shares bought originally.

Makes the capital gain bloody complicated if you have been buying and selling all over the place like i have. i am gonna try to avoid being caught by this 30 day rule as it is a nightmare for the tax return.

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