CGT: Declaring losses, what transactions to include in self assessment

Hello, I have to fill a self-assessment as I am an employee earning more than £100K. I will declare losses in the CGT section. Obviously, I will include in the report all the disposals that produced a gain or a loss within the tax year. My questions are: a. Do I need to report gifts (in form of crypto transfers) to my spouse if I declare losses? b. Do I need to report zero gain/loss disposals if I declare losses. Thanks,

Any expert that can help with me query please?

Hi,

You can find guidance here:

HS295 Relief for gifts and similar transactions (2022)

Thank you.

 

Thank for your reply. I am a bit confused by the link (HS295) you shared. First, it doesn't mention crypto, second "You do not pay Capital Gains Tax on assets you give or sell to your husband, wife or civil partner. I've basically gifted crypto to my spouse and I want to know if I should include this event in the CGT report or not, since I need to declare CGT losses.

Hi,

You are not liable to CGT when you gift an asset, including crypto currency, to your wife, as long as, you lived together for at least part of the tax year in which you made the gift and the gift is not of trading stock (trading goods bought for resale). You will not therefore have to report the gift in the Capital Gains section of your tax return.

Please note, however, that if your wife or civil partner later sells or otherwise disposes of the asset, they will have to pay the tax on any gain made over the total period of ownership, that is since the date it was first acquired by you, or 31 March 1982 if later.                                                                  

CRYPTO22100 - Cryptoassets for individuals: Capital Gains Tax: what is a disposal

Thank you.