When I sell my 50% of ownership of a property outside U.K.

Dear Sir/Madam: My wife and I have a property outside the United Kingdom. The share of ownership is 50%-50%. I am going to sell my 50% share of ownership to my wife. (1) We have been living together since our marriage. And as such, we are living together during the fiscal year this transaction takes place. (2) There will be no money transferred between my wife and me in this transaction. (3) I will pay all the taxes in that country related to this transaction. My question is: Do I or my wife need to report this transaction to HMRC?

Hi askaquestion,
As the transfer is between spouses, there is no CGT to pay at the time of transfer.
If your wife then sells the property, she is liable for CGT at that time.
Thank you. 

Thank you for your reply. But I would like to know: Do I or my wife need to report this transaction, i.e., the transaction between myself and my wife, to the HMRC?