Temp. non resident and his spouse

Temp. non resident and his spouse

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Hi,

just a quickie, when cystallising a gain, can you sidestep the need for a prolonged period of non residence by transferring the asset in question (at NGNL) to a spouse? The receiving spouse has then not owned the asset on departure and if actually then non resident , not subject to CGT even on return to the uk and the asset holder has made a chargeable disposal at no gain no loss which is notified on his return.

I have almost certainly missed something!

thanks

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By Peter The Painter
26th Jul 2011 15:20

How about

TCGA 1992 section 10A (3) (b).

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By Banzai
27th Jul 2011 10:36

OK

S10A doesnt read very easily but i think that tries to say that the spouse can be taxed on a gain of an asset acquired while offshore on her return because the acquisition was under NGNL provisions,  correct?

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