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Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.
Inter spousal transfers do not attract CGT.
Gifts are covered by the seven years rule. They create a Potentially Exempt Transfer (PET) in the donors IHT affairs. PETs run off at a taper over 7 years. In the event of a decease within this period they are added back to the donor's estate for IHT purposes. PETs are the first to suffer IHT and should the estate be insufficient to meet the tax on the PET the liability cascades down to be beneficiary for immediate payment.
It would be acceptable to HMRC, it is the current legislation on the subject.
I do hope you have found my reply of assistance.
Yes, assuming that there is no difference between the current market value as at donation and the price you paid your spouse.
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