Lukas P

Hi I am a deemed UK domicile and UK resident taxpayer. My wife is a non-dom and currently UK resident but she may leave the UK in the coming months becoming UK non-resident (either UK non resident under SRT or treaty non-resident under tax avoidance treaty with a EU country she is moving to). I intend to gift an asset to her. The asset are shares in a UK private company (which is not a property-rich company, and shares are not listed on any stock exchange). I would retain no beneficial ownership in that asset. Will any UK tax be payable if I either 1) Give shares to her when she is UK resident, she becomes UK non-resident (SRT or treaty) and disposes of the asset abroad realising capital gain abroad and paying CGT in her new country of residence. For the avoidance of doubt: she would not return to the UK for the following 5 tax years or more (i.e. she would not be temporary non-resident) or 2) She becomes UK non-resident (SRT or treaty), I gift shares to her (transfer from UK resident deemed UK domicile spouse to non UK resident, non-dom spouse), and then she disposes the asset whilst abroad and pays CGT in her new country of residence. Similar to Case 1 above she would not become UK resident again during the following 5 tax years (or more). Thank you Lukas