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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15977
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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If i transfer 255 of the shares in my small company to my wife

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If i transfer 255 of the shares in my small company to my wife is there any tax to be paid?

There won't be any tax to pay as transfers of assets between the parties to a marriage when they are living together or in the tax year of separation are tax neutral. What that means is that your wife takes the base cost of those shares to you as her own so the transaction produces neither a gain nor a loss as far as you are concerned. Take a look under the heading "Capital Gains Tax liability" on page 1 of HS281 here.

The transfer will also be ignored for Inheritance Tax purposes.

I hope this helps but let me know if you have any further questions.
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