question30 Dec 2020 17:04
Can i sell lets say £60k worth of shares held in my standard ii investment account before April 2021 and then gift £40k of this money to 2 different people ( I personally will use the other £20k to purchase shares in my isa I opened during 2020).
Therefore, the three of us then purchase £20k worth of shares each before April 2021 in our existing or newly opened isa accounts.. I know that tax must be paid on the ii share sale and also if any of those two people die within a 7 yr period, but after April 2021 the three of us do the same and receive another £20k each form the same ii account ,will we be breaking any rules?? Like do we have to wait 30 days after the ii share sale to do a purchase in the new 2021 isa,s
I think this is called bed and breakfast????????
cheers Red