I would appreciate views on the following as a way of avoiding CGT on some shares that I own
Provided the gain is within the CGT limit each year it seems to me I could repeat this every year until I want to sell them
Does anyone know any other ways ?
Rob
Where you sold at the close of play one day and bought the next morning was termed bed and breakfasting simply so you could use you CGT allowance. Obviously you have to pay brokerage fees and stamp duty.
As you state it this would either be ineffective, or count as tax evasion if you didn't tell the IR what you were doing. What the revenue care about is beneficial ownersip, i.e. who *really* owns shares and not whose name they're registered in. As you state it, if you "buy shares in your mothers name" the beneficial ownership would clearly still be yours.
OTOH, why do you want those shares particularly? You can always sell them and buy something different, or simply be out of the market for 30 days, or sell and buy back in an ISA or pension. Or do no trading at all, there is no CGT until you sell and you need pretty big holding before you are bound to pay CGT. Having that much in one company would be pretty risky anyway.
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