Can I transfer shares to my spouse to save capital gains tax?

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Gifts between spouses or civil partners living together are made on a 'no gain, no loss' basis, meaning no CGT arises on the transfer and your partner inherits your original base cost. This lets a couple legitimately double up allowances and exploit a lower-earning partner's tax rate. For 2026/27 each person has a GBP 3,000 CGT annual exempt amount, so transferring before a sale can shelter up to GBP 6,000 of combined gains. Worked example: you own shares standing at a GBP 6,000 gain and have already used your own GBP 3,000 exemption this year. If you sell, the full GBP 6,000 is taxable, costing GBP 1,440 at the 24% higher rate. Instead you transfer half to your spouse, who has used none of their exemption. Each of you now realises a GBP 3,000 gain, both fully covered by your respective exemptions, so the CGT bill falls to nil. If your spouse is a basic-rate taxpayer, gains above the exemption are taxed at 18% rather than 24%, a further saving. The transfer must be a genuine outright gift, not a sham, and the spouse must be the beneficial owner. The same approach works for crypto and funds. It does not work for unmarried partners, where a transfer is itself a disposal at market value. Use the Capital Gains Tax calculator to compare scenarios, and confirm the spousal exemption at gov.uk.

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• Can I transfer shares to my spouse to save capital gains tax?