Gift to spouse of shares in offshore non-reporting fund

Hello - I own shares in an offshore non-reporting fund and would like to gift these shares to my spouse. If this was an offshore fund with UK reporting status, my understanding is that no CGT would be payable at the point of the gifting of shares and instead my spouse would pay CGT on any gain at the point they later disposed of the shares (based on the gain from where I originally acquired the shares to the value of the shares at the disposal). For an offshore non-reporting fund that falls into the income tax regime rather than CGT, am I right in thinking that similar treatment applies, i.e. that no tax would be payable at the point of the gift but instead my spouse would pay income tax on any gain at the point they later disposed of the shares (based on the gain from where I originally acquired the shares to the value of the shares at the disposal)? Thanks

Hi ,
 

There is no capital gains tax liability arising from the transfer of assets between spouses.  Income tax is difference.  The beneficial owner of the shares would be taxable on any income arising from the disposal. Thank you .

Thank you. When you say "disposal" does this mean the subsequent sale of the shares by the spouse, rather than the action of transferring the shares (where no cash is realised)?

Hi,
The term disposal is meant to convey whatever way the owner ceases to own the asset, such as sell, give away, gift, swap and so on.
Thank you.