Hi,
As per this gov.uk site, I do not pay capital gains on stocks that I transfer to my spouse - Capital Gains Tax: Gifts to your spouse or charity - GOV.UK
How can I transfer some of my holdings in my freetrade account to my spouse?
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I don’t think direct transfer is possible.
You could sell the shares, withdraw the funds. Then send your spouse the £ and re-buy the shares on her account.
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If I sell the shares, that would result in a capital gains. I’m looking for a way to transfer it directly to my spouse’s FT account since that would not result in any capital gains (Source: Capital Gains Tax: Gifts to your spouse or charity - GOV.UK)
For e.g. HMRC provides a stock transfer form - Completing a stock transfer form - GOV.UK. However I’m looking for a way to do such a transfer for the shares in my FT account.
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You are correct, you can transfer shares to a spouse and not pay CGT.
However, as technically FT hold the shares and you don’t - you would need to contact them and ask if they can facilitate this. I am not sure if they do or not - it may be in their T&C’s.
If you held the shares directly you could simply fill out a stock transfer form and transfer them - but that’s not how it works with nominee structures.
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Big brokers offer this even though the shares are held in a nominee account.
IG for example offer this for non-ISA / non-SIPP : All you need to do is fill in a spouse stock transfer form
I don’t think this would be considered as a high priority feature for Freetrade but do request this under ‘Ideas’ and get people to vote for it.
Very much this.
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