If you use Robinhood UK, Tastytrade, or any US-origin broker, you’ll see references to “wash sales” in their documentation and tax reports. Ignore them. The US wash sale rule doesn’t apply to UK taxpayers. But the UK has its own version \u2014 and it works differently.<\/p>\n
Under TCGA 1992 s.106A<\/a>, if you sell shares and repurchase the same<\/em> shares within 30 calendar days after<\/strong> the sale, the disposal is matched to the repurchase rather than the Section 104 pool. The cost basis of the sold shares becomes the price you repurchased at.<\/p>\n Our detailed 30-day rule guide<\/a> covers seven common mistakes people make with this rule. The key points:<\/p>\n The window is 30 days after<\/strong> the sale only \u2014 not before. Shares bought weeks earlier are already in your pool.<\/p>\n It applies to all disposals \u2014 gains and losses alike.<\/p>\n ISA purchases don’t trigger it. That’s why bed and ISA<\/a> works.<\/p>\n It applies across all your GIA accounts, including across different brokers<\/a>.<\/p>\n The US version, under IRC \u00a71091<\/a>, disallows a loss<\/strong> if you buy “substantially identical” securities within 30 days before or after<\/strong> the sale. The disallowed loss gets added to the cost basis of the replacement shares.<\/p>\n Key differences from the UK rule:<\/p>\nThe US wash sale rule<\/h2>\n