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Posted Thu, 29 Feb 2024 12:40:59 GMT by rajakkad maithan
I have made a profit of around £2000 in a fund I hold in a general investment account in an investment platform. Am I able to sell this to harvest the gain of CGT allowance this tax year and then buy back the same fund immediately ? if I intend to buy a similar fund , but not same as I sold, is that allowed ? Is it allowed to buy a fund in general investment account before selling the investment to harvest the CGT allowance ? I understand wash sale rule is applicable only in harvesting CGT losses. is this correct ? Thanks
Posted Fri, 01 Mar 2024 09:43:42 GMT by HMRC Admin 25
Hi rajakkad maithan,
Please refer to:
CG13350 - Bed and breakfasting: general
Thank you. 
Posted Sun, 03 Mar 2024 10:21:54 GMT by rajakkad maithan
Thank you. I note the following point from your link: QUOTE Disposals must be identified with acquisitions of shares of the same class, see CG50203 acquired by the same person in the same capacity, and acquired within the 30 days after the disposal. UNQUOTE Does this mean I can acquire same shares within 30 days prior and then sell the stocks previously held . From reading the HMRC manual I can see that there is only restrictions for acquiring 30 days after the initial disposal of shares. Would you kindly clarify please thanks
Posted Wed, 06 Mar 2024 10:12:50 GMT by HMRC Admin 25
Hi rajakkad maithan,
Please see:
CG13370 - Bed and breakfasting: shares and securities
HS284 Shares and Capital Gains Tax (2023)
Thank you. 
Posted Sat, 23 Mar 2024 09:44:43 GMT by rajakkad maithan
Hi HMRC, Would you clarify whether I need to report on tax return the following: 1. If Dividend I receive is less than the dividend allowance ( £500 for the tax year 2024/25) 2. If capital gains I receive is less than the Capital gains allowance ( £3000 for the tax year 2024/25) Thanks
Posted Wed, 27 Mar 2024 07:31:53 GMT by HMRC Admin 25
Hi rajakkad maithan,
If you have to complete a tax return, then you need to report all dividends, both UK and foreign on your tax return, regardless of the amount.
If you have to complete a tax return for any other reason and the value of the asset disposed of exceeds £50000, then you must declare it in your tax return, even if there is no tax to pay.
Thank you. 


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