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HMRC internal manual

Capital Gains Manual

Transfer of assets: between husband and wife or between civil partners living together


With certain exceptions, which are explained at CG22210, any transfer of an asset between a husband and wife or between civil partners who are living together is treated by TCGA92/S58 as taking place for such consideration as will give neither a gain nor a loss to the transferor.

The consideration will be

  • the cost of the asset, plus
  • any subsequent allowable costs, plus
  • indexation allowance to the date of the transfer (if this was before 6 April 2008).

There is an example illustrating this at CG22240

The phrase living together is explained at CG22070.

NOTE. If a taxpayer is within the charge to Capital Gains Tax, neither indexation allowance nor taper relief apply to disposals of assets on or after 6 April 2008. Previously indexation allowance had been frozen at April 1998. For indexation allowance see CG17207+ and for taper relief see CG17895+.