CGT on Gifts to your spouse

Hi, I have some RSUs that have vested and they are in a brokerage account. I would like to use my wife's 6k (FY 23-24) CGT allowance by gifting part of the shares. What are the mechanics for this? Does my partner need to open a brokerage account and I transfer the shares? Or Can I dispose the shares are send the money to her account. Thank you.

Hi

The gift would need to be done prior to any sale and you would need to notify HMRC so that you are then not classed as the owner of the shares should you sell them within your own account.

Thank you

What are the mechanics for notifying HMRC? How to record gifting of shares and notifying. Just notifying is enough or one has to wait for some confirmation from HMRC, as any communication from HMRC takes very long time it might not be feasible in all cases to wait for a acknowledgement. Thank you.

Hi G T,
There are no capital gains liabilites when transferring assets between spouses and civil partners.
You do not need to notify HMRC of the transfer of the asset.
 Please have a look at the guidance here:
Capital Gains Tax on personal possessions
Thank you. 

I understand there are no liabilities but in the earlier reply, "The gift would need to be done prior to any sale and you would need to notify HMRC so that you are then not classed as the owner of the shares should you sell them within your own account." How can one notify HMRC?

Hi,

You would send a letter detailing what you have gifted and when to:

HMRC PAYE & Self Assessment
BX9 1AS

Thank you.