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Share identification rules on transfer to spouse

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Day 1: client acquires 1000 shares at £1 each

Day 100: client acquires 1000 shares at £2 each

Day 100: client transfers 1000 shares to spouse.

Is the cost for the spouse £2 per share, i.e. the share identification follows the normal rules? 

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By RaxJ
30th Sep 2020 18:08

I think it would be £2 per share, as the disposal has taken place on the same day as the acquisition? I believe the basic rule for CGT purposes is that inter spouse transfers take place at 'no gain/no loss' and at the date of the transfer. Maybe give the technical advisory line a call to get their view on it.

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By Tax Dragon
30th Sep 2020 18:38

Yes.

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