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Dear Phil. What more could you possibly have? Did you want to go over ground that I had already sorted out? I needed help in a particular area. And I've had it. Thank you. Yes these transactions are Bed and Breakfast or Washing deals, of course. Their intent was to take Capital Gains and losses into the right tax year on the back of a sell and buy-back. But whether these were successful or not does not come into the ambit of the translation. I was looking for a less informal way to describe it. And, again thank you. Of course this work was sent in some time ago.
This is a complaint by a 93 year old that his bank has landed him with capital gains for 2009. They result from sales and buy backs of his investments. Whether they are acceptable for tax purposes depends, I think, on the time between sale and buy back, but that is not the issue raised. I have used "Sale and Buy-back" finally.
Is there something less colloquial? Phil? We have full context. In fact the absolute question might deal with a 30 day wait. What I think is important that you pick up is the Sell first and buy back later. I think you're right, it's better stated as "vendus/achetés" Thank you.
Could we have some context please? A full sentence would be a start. The UK English term for selling stocks one day to achiev a tax loss and buying them again the next day is "bed and breakfasting". But then that would presumably be "vendus-achetés".
Automatic update in 00:
5 mins confidence:
stock buyback or share repurchase
Explanation: A stock buyback, also known as a "share repurchase", is a company's buying back its shares from the marketplace. You can think of a buyback as a company investing in itself, or using its cash to buy its own shares. The idea is simple: because a company can’t act as its own shareholder, repurchased shares are absorbed by the company, and the number of outstanding shares on the market is reduced. When this happens, the relative ownership stake of each investor increases because there are fewer shares, or claims, on the earnings of the company.
Hazel Underwood United Kingdom Local time: 03:54 Specializes in field Native speaker of: English
4 days confidence:
guaranteed principal trades
Explanation: IF (and only if) you want to know what it's actually called in the Euronext harmonised rule book. This particular type of 'opération d'acheté-vendu' (in securities, executed by an intermediary for one client) comes under this heading ('opérations de contrepartie garanties' in French) in paragraph 4402. Note that it is *defined* as a trade by a market member: buy and sell orders for the same amount of the same security, entered into the order book at the same time.
These trades are permissible if they do not constitute a 'transactiion fictive', and the intermediary could be liable for facilitating market manipulation if they do. But establishing a tax gain or loss is a perfectly good reason, as far as the AMF is concerned: "Il est précisé à cet égard, qu'une opération initiée par un client aux fins de générer, pour un motif fiscal, une plus ou moins-value tout en conservant son actif, ne requiert pas de diligence particulière à ce titre de la part du prestataire."
From the client's standpoint, these would be "wash sales" in US tax terminology. Not illegal: they just don't count for tax purposes. Because they do seem to count in France, that's a good reason to avoid the term. Similarly, the UK "bed and breakfasting rules" are designed to prevent tax-free gains and losses -- and that is not what the client is complaining about, is it? If he did not initiate the trades in question, he would appear to have a valid beef.
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