Informing HMRC about transfer of part of property to spouse

Kirkmain

Scenario is such

Wife and I joint tenants in property where mortgage is paid off.

Would like to transfer my half to spouse. No CGT implications as inter-spouse transfer, and no Stamp duty implications as no mortgage and no money exchanged.

Do HMRC need to be informed by either party that such a transfer has happened. Or is it just a case of submitting the TR1 form to land registry. And and what instant has transferred happened? When forms are submitted, or when the land registry is updated (which can be months in the future). Need to know for declaring rental income purposes.

asking HMRC, seem to get conflicting answers:

https://community.hmrc.gov.uk/customerforums/cgt/90f8d92c-4e25-ee11-a81c-000d3a8751e3

HMRC Admin 5 says "As there is no capital gains tax to pay on the transfer of assets between spouses or civil partners, you would not need to report the transfer to HMRC."

But

HMRC admin 25 says: "You should let HMRC know though that it has happened."

Mark_d

Are you wanting to change the legal owner or the beneficial interest?

Kirkmain

Mark_d said:

Are you wanting to change the legal owner or the beneficial interest?

curretly jointly owned. Want to transfer so wife is the sole legal owner

propertyrental

Well you're certainly not transferring 'part of the property' (TP1). That would involve giving her, say, the kitchen and hallway but keeping the rest!