Transferring shares to spouse's freetrade account

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#1

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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Stock transfer to spouse's FT account
#2

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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#3

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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#4

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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#5

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.

#6

Very much this.

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#7

Thanks everyone.
Posted this idea - Stock transfer to spouse's FT account

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#8

Hi - I have exactly the same need. My wife just opened an account, thinking this was possible after reading ISA Transfer - Transfer your stocks and shares ISA | Freetrade

The freetade form does not allow a gift process :frowning: https://assets.website-files.com/5c73e3cf2d05ce73f79a3d10/5e8a55b08a0cee85d98391d8_Freetrade%20ISA%20Transfer%20Form%2031.03%20.docx.pdf

Has anoyone managed to do this ? … or is it still stuck as a feature request (as linked earlier in this thread?) … if gifting shares is not possible (from another company), I will close the account, and have to go elsewhere.