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HMRC internal manual

Capital Gains Manual

Transfer of assets: between spouses or between civil partners living together


With certain exceptions, which are explained at CG22210, any transfer of an asset between spouses 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+.