I am the sole owner of the marital home, which was purchased in 1987, and this has always been my only residence. I married in 2008, at which time my wife moved in and has occupied the property since then as her only home. I would like to transfer 50% of the property into my wife’s name. Please could I clarify that TCGA 1992, s 222(7) provides that in doing so, my wife will take on not only my period of ownership but also my use (i.e., it being deemed her private residence throughout)? 

Arthur Weller replies:  

In its Capital Gains Manual at CG64925, HMRC states: ‘For disposals on or after 6 April 2020, if a dwelling-house or part of a dwelling-house is transferred between spouses or civil partners of each other and who are living together, whether by sale or by gift, the period of ownership of the transferee is treated by s222(7)(a) TCGA92 as beginning at the beginning of the period of ownership of the transferor." That means that your wife will be eligible for the same principal private residence relief from capital gains tax that you would have been eligible for.