Asset Transfer

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    Asset Transfer

    My husband and I moved abroad 10 years ago, but we retain a small number of UK rental houses which we've been hoping to sell. I may now have to return to the UK for personal reasons for a couple of years. Could anyone please tell me what the CGT implications would be if I transferred the houses to my husband now or if I transferred them after becoming UK resident again (on the basis that we still want to sell them)? Thank-you

    It may be better to make your inter-spouse transfer before you return to UK. And you need to consider the effect under tax laws of country where you are living

    But if you decide to sell , do it quickly as the tax rules for non-residents may be changed soon according to a report in Times Newspaper on 1st Nov .


      Hi Amy

      As Gordon correctly states you need to be aware of the current tax implications of the country you are currently resident in as your first port of call, as this could be a major factor in any planning.

      There will certainly be an impact with regards to UK CGT if you own part of the properties and sell them when you resume residency in the UK again.

      If however, it is a straight transfer of ownership to your husband once you re enter the UK then their will be no CHT issues as Husband & Wife Transfers are exempt under CGT law.

      I would consult your Tax Advisor, who will be best placed to plan everything for you.

      Kind regards

      Terry Hodge
      Head of Tax


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