Capital Gains Tax

4. Gifts to your spouse or charity

There are special rules for Capital Gains Tax on gifts or assets you dispose of to:

  • your spouse or civil partner
  • charity

The normal rules apply for gifts to others.

Your spouse or civil partner

You don’t pay Capital Gains Tax on assets you give or sell to your husband, wife or civil partner, unless:

The tax year is from 6 April to 5 April the following year.

If they later sell the asset

Your spouse or civil partner may have to pay tax on any gain if they later dispose of the asset.

Their gain or loss will be calculated from when you or they first owned it.

If this was before April 1982, your spouse or civil partner should work out their gain using the market value on 31 March 1982 instead.

They should keep a record of what you paid for the asset.

Gifts to charity

You don’t have to pay Capital Gains Tax on assets you give away to charity.

You may have to pay if you sell an asset to charity for both:

Work out your gain using the amount the charity actually pays you, rather than the value of the asset.