capital gains and property transfer to spouse

[oligon]

If I transer (gift) an investment property which is in my sole name to my spouse will the spouse be liable for CGT, if they subsequenlty sell it, a) based on it's value on the date when it was transferred to them or b) based on the value is was originally purchased for by me (20 years ago)? Answer is probably very obvious but any advice gratefully received, thanks

 

[Joe_90]

As there is no CGT payable by you they are deemed to have acquired it on your date of acquisition and your cost.

Remember your spouse will not get any interest relief if they borrow to acquire their interest.