Disposals to Spouse
Where an asset is transferred from one spouse to another there is no Capital Gains Tax, no Stamp Duty and no Gift or Inheritance Tax. In effect the spouse who receives the asset is deemed to have acquired it at the same time and cost price, which applied to the spouse who transferred it.
The benefit of this relief is not available in certain circumstances where the recipient spouse is non-resident here for tax purposes.
This is an important relief from taxation for married couples and when combined with other tax reliefs in relation to property it can be used to one’s advantage.