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Posted Fri, 12 Jul 2024 22:52:22 GMT by 1000 Faces
I am registered for self-assessment. I am transferring shares to my married partner. I understand that she is then liable for any subsequent gains rather than myself. The part I'm not sure about is reporting capital gains when the total assets sold amounts to more than £50,000 as per https://www.gov.uk/capital-gains-tax/work-out-need-to-pay. Does this transfer count towards that?
Posted Wed, 17 Jul 2024 08:12:13 GMT by HMRC Admin 8 Response
Hi,
No, as transfer of assets between spouses is at a no loss/no gain senario and you dont need to report it.
If you were to sell the shares and then transfer the proceeds to your partner then this would be a reportable gain.
Thankyou.
Posted Wed, 17 Jul 2024 11:07:38 GMT by 1000 Faces
Thank you for your clear response. 😊

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