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What is No gain, no loss transfer?
Last verified 31 October 2026
A no gain, no loss transfer is a gift or sale of an asset to your husband, wife or civil partner on which no Capital Gains Tax is charged. GOV.UK says you do not pay the tax on assets you give or sell to them, with limited exceptions.
Why it matters to landlords
The exceptions are if you separated and did not live together at all in that tax year, or the goods are given for the partner's business to sell on. The tax year runs from 6 April to 5 April.
The tax is deferred, not removed. If your spouse or civil partner later sells, they may owe tax on the gain calculated from when you first owned the asset, so they should keep a record of what you paid. For property bought before April 1982, the market value on 31 March 1982 is used. Landlords often use this to move ownership into the name of the partner on lower tax bands.
Example
Rob bought a rental flat in 2014 for £140,000. In 2026 it is worth £220,000 and he transfers it to his wife Zoe. No Capital Gains Tax is due on the transfer. Zoe sells in 2027 for £240,000 and her gain is worked out from Rob's £140,000, so it is £100,000 before costs and reliefs.
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Related terms
- Declaration of trust
- Joint ownership and Form 17
- Capital Gains Tax (CGT)
- Base cost
- Capital Gains Tax annual exempt amount