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HMRC internal manual

Capital Gains Manual

Employee shareholder shares: disposal to spouse or civil partner

TCGA92/S58 (2)

The no gain/no loss rule for disposals by an individual to a spouse or civil partner does not apply if the disposal is of exempt employee shareholder shares (see CG56715.) No chargeable gain or allowable loss accrues to the individual making the disposal and as a connected person (see CG22210) the spouse or civil partner acquiring the shares is deemed to acquire them for a consideration equal to the market value at the time of disposal. A chargeable gain or allowable loss may accrue if the acquirer subsequently disposes of the shares.