Do I have to pay CGT when I gift an asset to my spouse/civil partner?

No, you do not pay CGT when you make a gift to your husband, wife or civil partner – as long as both of the following apply:

• you lived together for at least part of the tax year in which you made the gift; and
• the gift is not of ‘trading stock’ (trading goods bought for resale).

However, if your husband, wife or civil partner later sells or otherwise disposes of the asset, they will have to pay the tax on any gain made over the total period of ownership, since the date it was first acquired by you (or 31 March 1982, if later). In other words, the recipient spouse or civil partner is treated as having owned the asset from the date the transferring spouse acquired it.