Can i buy same share after selling within 30 days in T212? What are the rules?
In Invest & ISA accounts, you can buy or sell shares whenever you want, at your discretion. When it comes to CFD accounts, scalping is not allowed.
You can buy 3 seconds later. I assume you might be referring to HRMC B&B rules which are something different
Thank you. Its ISA account.
Putting aside the scalping issue, if it is an ISA then its UK tax exempt. If you were thinking of the B&B rules it is some years since I looked at them because they’ve not been relevant to me. However, the rules were to stop people just selling to crystallise a loss or gain and then immediately rebuying.
The problem that HRMC had was that if you have a capital gains allowance and you got to a week before the end of the tax year and realised that you weren’t going to use 100% of that years capital gains allowance you might sell some shares to crystallise a gain to use close to 100% of the allowance and then repurchase the shares (starting a new investment). Thus the rule was introduced that if you sell and then buy the shares again within N days (I’m guessing 30) it will just be treated as one continuous investment from a tax perspective. Thus you could sell and buy but couldn’t use the gain/loss for CGT purposes it was only the final sale (when you didn’t repurchase) that would be subject to CGT rules. The rules may have changed (and I may have got them wrong) but when I saw your post I thought that you might have read something about the B&B rules - which don’t apply to ISA anyway