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Posted Wed, 27 Nov 2024 13:06:59 GMT by Ash1990
Hi, I have a general question: 1) If a transfer is made to spouse of crypto would this be tax free? 2) In terms of self assessment do I need to report this anywhere. For example the hmrc threshold for reporting disposals is £50k. Am I correct in understanding that if a transfer is made to a spouse then the disposal cost of the transferor is equal to the acquisition cost and this would then be shown in the capital gains section of self assessment, or do we not have to show this transfer? 3) If the disposal to a spouse is under the 50k threshold to a spouse does this need to be reported anywhere?
Posted Mon, 02 Dec 2024 12:50:20 GMT by HMRC Admin 17 Response


Hi ,
 
Transfers/gifts to a spouse are done on a no loss no gain so there s nothing to report.

If the spouse then sells the asset then this is when they need to report any gain.


Thank you .
Posted Wed, 04 Dec 2024 15:18:44 GMT by C1989
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