Question: Can I gift some sale proceeds to my wife so she can utilise her capital gains tax allowance?
I have sold a property on 31 Jan 2020 that was solely on my name. Is there any way that I can assign/gift (say) £12,000 of capital gains to my wife now so that she too can take advantage of my capital gains tax (CGT) allowance?
Arthur Weller replies:
Answer: Unfortunately, no. Once the sale has been made, there is no way that you can make use of your wife's CGT annual exemption.