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Do transfers of assets to a spouse and a charity have to be reported for capital gains tax purposes?
In 2014/15 our client transferred substantial assets to his wife and to a charity. I know that no chargeable gains arise on these disposals but I am not sure whether anything has to be entered on the capital gains tax pages of his tax return. He has chargeable gains to report as well so do we simply leave out the disposals to his spouse and to charity? Alternatively should we include them but show the proceeds as “no loss no gain” and the gain as nil? And is there a difference between the gifts to his spouse and the gifts to charity for reporting purposes?
If there were no other disposals to report would we need to fill in capital gains tax pages if the total value or the total deemed value (no loss no gain) of these non-chargeable disposals ...
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