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TaxRobin
TaxRobin, Tax Consultant
Category: Tax
Satisfied Customers: 15312
Experience:  International tax
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Our London flat has appreciated substantially. I am not a resident

Customer Question

Our London flat has appreciated substantially. I am not a resident of the UK but my wife is. Our flat is jointly owned. I would like to transfer my share to my wife. Do we need to pay capital gains tax? Thank you.
Submitted: 2 years ago.
Category: Tax
Expert:  TaxRobin replied 2 years ago.
The transfer to your spouse would not have a tax filing requirement but a sale would if this is not the primary residence. Primary residence relief may be used to avoid tax on the appreciation.
Customer: replied 2 years ago.
This is my wife's primary residence. It is not my primary residence. Is there a difference between transfer and sale? Thank you.
Expert:  TaxRobin replied 2 years ago.
The transfer to your spouse is not going to be taxable. I mentioned sale to say if your spouse later sold but as it is their primary they would not be taxed. No tax for them to sale or to receive the half you own. You would not be taxed on transfer to them either.
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Customer: replied 2 years ago.

How does my wife establish that our home is her primary residence?

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