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Posted Thu, 01 Feb 2024 18:16:59 GMT by
A married couple live in Chile and jointly own a UK investment property; He is a British Citizen but UK non-resident since 1998. HRMC would seem to view him as remaining UK domiciled, however, in that he receives UK personal allowances; The wife is a Chilean citizen and has never lived in the UK and is viewed as non-domiciled (in that she does not receive the personal allowances); If the non-domiciled spouse were to make a transfer (of all or part of the property) to the domiciled partner, would such a spousal transfer be free of any CGT liability?
Posted Fri, 02 Feb 2024 16:48:52 GMT by HMRC Admin 25 Response
Hi HonoraryCarioca Burnage,
Yes, as there is no gain when assets are gifted/transferred to a spouse at the time of transfer.
A gain would only arise if/when the asset was subsequently sold.
Thank you. 

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