When I sell my 50% stake of an overseas property to my wife

My wife and I are both UK tax residents. We own an overseas property. We share the property right equally, i.e. I have 50% of the property right and my wife has 50% property right. If I sell my 50% property right to my wife, and there is a capital gain in this transaction. Do I need to pay the Capital Gain Tax in UK.? Kindly advise. Thank you.

Hi,
It would need to be a gift to your wife where no actual funds are involved in order to be free from capital gains:
Capital Gains Tax: what you pay it on, rates and allowances
Thank you.

Hi anordinaryperson,
There is no UK capital gains liability from the transfer of assets between spouses or civil partners.
If you give your share to your wife, there is no capital gains tax to pay.
Your wife will acquire your share of the property at your acquisition value, when you initially acquired the property, so that if she disposes of the property, then the gain is based on the acquisiton costs.
The taxation rules in the other country may result in tax being payable there.
Thank you.