Move the Foreign Currency for single account to a Joint account

Posted Sun, 07 Jan 2024 05:25:08 GMT by

I moved the USD from my personal account to a Joint account shared with my wife. Please advise if my wife need to split the Gain / Loss to declare CGT after disposal ?

Posted Wed, 10 Jan 2024 15:42:59 GMT by HMRC Admin 10 Response

Hi
There is no capital gains charged on the transfer of assets between a husband and wife, so there is no gain and no loss arising.

Posted Wed, 10 Jan 2024 16:49:23 GMT by

What I mean is I bought the US dollar in my single account, and then move the US dollar to joint account share with my wife and then sold the USD. Should we declare the gain 100% on myself or split the gain and declare on me and my wife?

Posted Tue, 16 Jan 2024 13:44:40 GMT by HMRC Admin 10 Response

Hi
Split the gain with your wife.

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