selling shares at a loss for cgt reduction

[joe sod]

I have shares that have a paper loss now, I have other shares that i have already sold at a capital gain. I am considering selling these shares in order to realise a loss for tax reasons i know that this is only valid provided you do not buy back the shares before 28days has passed. However is it possible to buy an equivalent number of new shares and then sell the original shares at a loss in case the shares rebound during the 28day period. Is there any rule regarding this

 

[Joe_90]

If you buy them within 28 days of the disposal then the disposal will be deemed to be the most recently acquired shares.

 

[dublin66]

Stockbrokers used to offer a "bed and breakfast" service whereby you would sell and buy the shares back after a 28 day period. I don't know if this is still available. Google "bed and breakfast" and see what you get.

 

[joe sod]

thanks for that so my understanding is that i must buy the new shares wait at least 28 days and then sell the old shares in order that the capital loss on the old shares is allowed. I thinks thats correct. Another question I want to include the capital loss against the capital gain on the other shares I have already sold. I must make a return by december 15 for the capital gain on these shares which was completed by the november 30 deadline. If I want to sell the shares at a loss to use against the capital gain do I have to allow 28days before the november 30 deadline or can i sell these shares any time up to november 30 in order for it to be included .