Same day trading and B&B rules

🤝 Help
1

Hi,

I am working on the tax return and using the website
http://www.cgtcalculator.com/calculator.aspx
I am a bit confused about the calculation. Please would anyone give me some advice :pray:

I understand that the B&B rule applies on trades happen within 30 days even trades are done between the previous and the next tax year, but the website generated the calculation about the sell on 6/4/2022 just showing it was a day trade instead of SECTION 104 HOLDING

Entry
Tax year 21-22
Buy 25/03/2022 TSLA 3 748.9046
Sell 25/03/2022 TSLA 3 749.8183
Buy 28/03/2022 TSLA 5 767.2998
Sell 31/03/2022 TSLA 5 831.1428

Tax Year 22-23
Buy 06/04/2022 TSLA 5 857.79
Sell 06/04/2022 TSLA 5 864.97

Calculation
TAX_YEAR 21-22

SELL: 3 shares of 3 TSLA on 25/03/2022 at £749.8183 gives GAIN of £2.00
SAME DAY TRADE Matches with:
BUY: 3 at price £748.9046
CALCULATION: GAIN = £2.00 = ( 3 * 749.8183 - 0.00)-( 3 * 748.9046 + 0.00 + 0.00)

SELL: 5 TSLA on 31/03/2022 at £831.1428 gives GAIN of £319.00
Matches with:
BUY: SECTION 104 HOLDING. 5 TSLA shares of 5 bought at average price of £767.2998
CALCULATION: Gain = £319.00 = ( 5 * 831.1428 - 0.00 )-( 5 * 767.2998 )

TAX_YEAR 22-23

SELL: 5 shares of 5 TSLA on 06/04/2022 at £864.97 gives GAIN of £35.00
SAME DAY TRADE Matches with:
BUY: 5 at price £857.79
CALCULATION: GAIN = £35.00 = ( 5 * 864.97 - 0.00)-( 5 * 857.79 + 0.00 + 0.00)

so…can same day trade ‘override’ B&B rules or it is just computational error?

Thank you for your time :bowing_woman: :bowing_woman:

2

there is a tier structure which applies like this

First - shares acquired on the same day as the disposal (the ‘same day’ rule).

Second - shares acquired in the 30 days following the day of disposal (the ‘bed and breakfasting’ rule) provided the person making the disposal was resident in the United Kingdom at the time of the acquisition if the relevant acquisition was on or after 22 March 2007.

Third - shares in the Section 104 holding.

so day trade overrides bed and breakfast, source:

ShareScope | Training Zone | Tutorial.

3

Thank you for your reply :pray: :pray: