Share identification rules for capital gains tax

In matching disposals to purchases using the share identification rules do earlier disposals always take precedence over later ones? Or should a later disposal be processed first in the case where a same day match applies to it? For example if we had : 25th June : Section 104 pool brought forward - 20 shares of ABC Ltd 1st July : Sell 10 shares of ABC Ltd 7th July : Buy 10 shares of ABC Ltd 7th July : Sell 10 shares of ABC Ltd Should the 1st July disposal of 10 shares be matched against the 7th July purchase of 10 shares using the 30 day rule? Or should the 7th July disposal of 10 shares take precedence over that (even though the 1st July disposal was earlier) and be matched against the 7th July purchase of 10 shares using the same day rule, and then the 1st July disposal of 10 shares would be matched against the Section 104 pool of 20 shares? Thanks

Hi.

Please refer to the following guidance and the example 3 below it:

Shares and Capital Gains Tax (Self Assessment helpsheet HS284)

Thank you.

Hello Unfortunately neither the helpsheet HS284 nor the example 3 below it answer my question as they do not cover the scenario I described. Could I please get an answer to that specific scenario. I have searched extensively in HMRC documentation and studied other examples given by HMRC but none cover the scenario of my question. The answer is either : (1) 1st July disposal of 10 shares should be matched against the 7th July purchase of 10 shares using the 30 day rule OR (2) 7th July disposal of 10 shares should be matched against the 7th July purchase of 10 shares using the same day rule Is it (1) or (2) ? Thank you

Hi Fraser Scott,
We cannot reply to specific details on this forum.
You will therefore need to contact HMRC direct by contacting the helpline:
Self Assessment: general enquiries
Thank you.