Crypto transfer to spouse

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?

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 .

Hi Admin, There is a lot of conflicting information in the forums about this matter. Some admins have mentioned that a declaration of Trust or deed of trust needs to be submitted prior to the transfer/gift of the crypto assets. Where as you haven't mentioned this at all. Is this because the value is under £50,000 in this scenario?

Hi ,
 

As there is no loss/gain when you transfer an asset to a spouse you do not need to report it. However, you should still have evidence of the transfer to support the change for when/if eventually sold . Thank you .