Do Transfers between spouses have to be declared

GoGas

Do large transfers of investments between living husband and wife (which are free of IHT or tax) have to be declared to HMRC either in the tax form or in an IHT form during probate?

Thanks

CLAPTON

GoGas wrote: »

Do large transfers of investments between living husband and wife (which are free of IHT or tax) have to be declared to HMRC either in the tax form or in an IHT form during probate?

Thanks

there is no general requirement to tell HMRC about transfers of assets between spouses.

I'm not sure what you mean about IHT: whose estate are you referring to?

GoGas

Thanks, IHT I was referring between spouse but gifts made prior to death , as gifts have to declared in IHT400 for probate

CLAPTON

GoGas wrote: »

Thanks, IHT I was referring between spouse but gifts made prior to death , as gifts have to declared in IHT400 for probate

No, gifts made between spouses don't need to be included in HMRC returns for probate (no 7 year rule here)

zygurat789

CLAPTON wrote: »

No, gifts made between spouses don't need to be included in HMRC returns for probate (no 7 year rule here)

Is that even if they are not living together?

CLAPTON

zygurat789 wrote: »

Is that even if they are not living together?

a very good point

useful reference


https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/323663/hs281.pdf