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If my husband sells 70000 QPP shares today in his own name,

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If my husband sells 70000 QPP shares today in his own name, can I buy the same number back in my own name later today? Without an adverse effect on his CGT.
The term "bed and breakfasting" was originally used to describe share transactions in which shares are sold one day and reacquired the following morning. It is now used more generally to cover arrangements in which a person sells an asset only to buy it back again a short time later. In most cases the disposal will realise a loss, which can then be set off against other gains.
A sale and repurchase under a single agreement will not qualify as a disposal for capital gains purposes.
HMRC would need to look at the specifics of the actions.
In order for HMRC to determine whether or not the rule applies to your transactions, it would be necessary to consider whether or not arrangements have been entered into with a main purpose of securing a tax advantage.
As the statutory definition of arrangements includes a “transaction”, both the sale of the shares and their subsequent purchase by you are arrangements for the purposes of the rule. It is then necessary to consider whether securing a tax advantage was a main purpose of those arrangements, and to do so it is necessary to take account of all the circumstances in which the arrangements were entered into, including the participants’ overall economic objective, and whether that objective is being fulfilled in a straightforward way, or whether additional, complex or costly steps have been inserted. Your decision to acquire the shares was unconnected with your husband's disposal of similar shares, and your husband has simply taken advantage of the statutory relief for capital losses in section 2(2) in a straightforward way. Moreover, your husband has incurred a real economic loss on a genuine disposal to a third party. Have you made a genuine purchase on arm’s-length terms. These factors would suggest there was no main purpose of obtaining a tax advantage, so these transactions do not fall foul of the TAAR.

In short, the transactions themselves would not be a problem as long as HMRC saw no manipulation of the tax laws and your actions were complete, with the transactions separate from one another.
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