CGT on future sale of gifted property

I have a main residence and a property which is rented out (second house) purchased in 2004 . I plan to gift my second house to my wife as part of a divorce. I understand that no CGT is payable when the ownership is transferred, but if my wife lives in the house as her primary residence for more than a year - and then decides to sell the second house - does she have to pay CGT on the profit since 2004, profit since 2024 or does she pay no CGT? If she sells immediately on receiving the gift, is her CGT the same?

Hi 
There is no capital gains tax liability on the transfer of assets between spouses and civil partners, from 6 April 2023 separating spouses or civil partners are given up to three years after the year they cease to live together in which to make no gain or no loss transfers.  
This means your wife will acquire the property at the 2004 value.  
If she then disposes of the property, she will be able to claim private residence relief for the period in which the property was her main residence.  any remaining gain will be chargeable to capital gains tax.  
Have a look at the guidance on private residence relief at HS283 Private Residence Relief (2024) Updated 6 April 2024
Thank you.