Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Sat, 23 Dec 2023 22:17:13 GMT by
I sold my share portfolio in my securities account with one broker (Broker A) say on Dec 1st, and bought the same shares back within 7 days through another broker (Broker B) say on Dec 7th. The transaction was due to closure of Broker A account. Could you confirm the bed and breakfasting rule apply in this situation despite involving different brokers. That is, the capital gain/loss is computed based on the sale price on Dec 1st and purchase price on Dec 7th, rather than the original purchase price and sale price on Dec 1st? Thanks.
Posted Mon, 08 Jan 2024 08:41:26 GMT by HMRC Admin 19 Response
Hi,

You can see guidance below that provides a general description of the bed and breakfasting rules:

CG13350 - Bed and breakfasting: general

The guidance belowat CG13360, gives the conditions that need to be satisfied for the bed and breakfasting to apply: 

CG13360 - Bed and breakfasting: conditions to be satisfied

Thank you.

You must be signed in to post in this forum.