When shares are sold on the last day of the year and bought back the next day, then the cost at which the shares were bought next day is used to compute gains.
Then what will be the cost used to compute gains on disposal of shares which are bought the next day of the year ?
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Sorry but I do not understand your question - when shares are sold you simply follow the set rules of identification given in the notes to determine what cost to deduct from the sale proceeds, but remember to determine whether you are dealing with a disposal by an individual or a company as there are different identification rules for each.
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