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Transfer of shares to spouse

Checking base cost

Can someone confirm that if someone (say Mrs X) transfers some shares to their spouse, say Mr X and then Mr X subsequently sells these shares, his base cost is the value as at the date of transfer and not the original cost to the first spouse.

 

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18th Dec 2018 15:59

Original cost to the spouse

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18th Dec 2018 16:01

TCGA 1992 s58. Base cost is original cost of transferor.

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By Jholm
18th Dec 2018 16:23

If it were the cost upon transfer, you would end up being able to manipulate to avoid gains.

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18th Dec 2018 16:58

OP - If someone confirms what you say, ignore them.

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By DJKL
18th Dec 2018 18:55

I will caveat undernoted advice if during separation, as whilst still married, so technically spouse, the tax rules are slightly trickier.

https://www.shipleys.com/resources/issue/taxation-and-divorce

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