wcd 2024

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)?

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