'Bed and Breakfasting' can save VCT investors £6,000

Most investors with no capital gains this tax year are throwing away up to £6,000, warns Martin Churchill, editor of Tax Efficient Review. Churchill says it is not widely recognised that 'Bed and Breakfasting', the selling and repurchasing of shares to crystallise a gain to offset against the annual Capital Gains Tax (CGT) exemption, is still possible for Venture Capital Trust shares. This is relevant to investors who deferred a gain by purchasing VCT shares, have held their VCT shares for the minimum period to ensure Income Tax relief is not withdrawn (either three years of five ...