Are There Any Tax Implications If I Transfer My Property To My Spouse?

Q.3 Are There Any Tax Implications If I Transfer My Property To My Spouse? I Am Looking At Transferring A Property In Manchester (Without A Mortgage) From Joint Names To A Single Non-Taxpayer Spouse. Will Any Taxes Be Payable?

Arthur Weller replies:

When they are living together, any transfer from one spouse to another spouse is treated as no gain, no loss, and there is no capital gains tax to pay. The receiving spouse takes over the base cost of the donating spouse. Since there is no mortgage on this property, there is no stamp duty land tax.

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