Quick B&B 30 day CGT rule question

[Revisitph]

1. Is it 30 days e.g. Feb 7th to March 10th, or 30 weekdays (so Feb 7th to March 24) or even more arcane, from nearest settlement days. I assume it is the first but someone will know for sure... Eric perhaps?

2. Under rules re spouse, they could presumably buy the same equities on the same day as the sale, the money transfer from one partner to the other (admittedly with a lag because of settlement day) and then the reverse, if one was doing it by buying and selling rather than a transfer of ownership after 30 days.

Thanks in anticipation.

[Ozzie Osmond]

30 days is 30 calendar days. Best to leave more than that to make it absolutely clear. You don't want to fall short by 24 hours due to some clever counting.

Share transactions are counted from the contract date for both sales and purchases. Ignore settlement.

Yes, it is possible for husband to sell in the market and wife to buy in the market identical shares on the same day, thus effectively "swapping" their holdings and avoiding the normal 30 day rule.

[Revisitph]

Thanks, holding in GLEN.LON duly sold & bought - though many don't favour big mining / commodity atm....

Edited by Revisitph on Saturday 8th February 00:17