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Making use of the CGT tax-free allowance yearly?
vienly
Posts: 248 Forumite
in Cutting tax
Can someone check this for me, and if it makes sense?
I understand currently the CGT tax-free allowance is £3000, subject to change every year.
As an example, If I invest £30k into VUAG and make 10% profit (£3000) and sell up before end of financial year, then use that £33000 to buy VWRP within the same financial year, can I assume there is no capital gains tax to pay?
I think I understand the bed and breakfast rule, but since I am buying a different investment so this wouldn't apply?
Just trying to make sense of how to maximise the CGT tax-free allowance yearly. Thank you
0
Comments
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yes on both issues
- application of B&B rule
- utilisation of annual exempt amount1
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