anordinaryperson

My wife and I are both UK tax residents. We own an overseas property. We share the property right equally, i.e. I have 50% of the property right and my wife has 50% property right. If I sell my 50% property right to my wife, and there is a capital gain in this transaction. Do I need to pay the Capital Gain Tax in UK.? Kindly advise. Thank you.

My wife and I are both UK tax residents. We own an overseas property. We share the property right equally, i.e. I have 50% of the property right and my wife has 50% property right. If I sell my 50% property right to my wife, and there is a capital gain in this transaction. Do I need to pay the Capital Gain Tax in UK.? Kindly advise. Thank you.