Tax advice of the week: The return of bed and breakfasting

'Bed and breakfasting' – selling investments and buying them back immediately to crystallise a gain for tax purposes – was banned. But now there's a new – and legal – way to use the idea.

'Bed and breakfasting' selling investments and buying them back immediately to crystallise a gain for tax purposes was banned. But there's a "new and legal way" to use the idea, as long as you "favour funds over individual shares", says Richard Fletcher in The Sunday Telegraph.

You sell your holding in a given fund and buy a different, but very similar fund. You either leave your money there, or switch back after the regulation 30 days. For those investing via an online platform, this should be quick and free.

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