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Bed & Breakfast
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Bed & Breakfast isn't 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
Last Updated: May 2007 © Moneyextra.com
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