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Bed & Breakfast
Bed & Breakfast isnt some overnight stay at a hostelry on the seafront in Scarborough but a now defunct practice which used to work before 6 April 1998 for minimising your capital gains tax CGT bill. Before Chancellor Gordon Brown changed the rules in his March 1998 Budget it was an established stockmarket practice designed to enable investors to minimise their capital gains tax CGT bills . It was the process of selling shares on one day and then re-purchasing them on another usually the following day for tax purposes. See also Capital Gains Tax CGT rates .The Capital Gains Tax indexation table ©Moneyextra.com Moneyextra.com recommends you take independent financial advice before acting on any article 2009-02-17 00:00:00 © Moneyextra.com