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Hi TaxRobin, I'm not sure what you mean so let's take an example. My wife owns a property (not and never has been the family home) Since she bought it it has increased in value by say one hundred thousand pounds. If she sells the property she has to pay capital gains tax on the hundred thousand pounds (minus nil rate band) but if she gifts it to me, her husband, there is no liability. Yes? OK say once I have received the gift I then gift the property on would the value of the property be based on the value at the time I received it, not the price my wife originally bought it for? Would my gifting trigger a capital gains tax charge for my wife's gifting? Basically I am asking can spouses by gifting property between themselves and then gifting it on to their children legally avoid capital gains tax? My concern is that if my wife gifts straight to the children that will trigger a large capital gains tax charge, then if she dies within seven years a massive IHT bill on top. We might as well set fire to the premises LOL!