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Spouses provide relief under new tax regime

timetotrade helps investors to calculate tax relief they could lose by not acting before 5 April 2008 deadline - provided they have an obliging spouse!

In the current financial climate and with the markets back to the same levels as 10 years ago, it’s not surprising that few investors want to sell shares at such a low simply to lock-in their existing indexation benefits. For investors who have an obliging spouse there is an alternative option!

The new timetotrade Capital Gains Tax calculator helps investors reduce their tax bill by working out how much indexation allowance they could lose if they don’t act before the tax deadline, the tool can be accessed by investors at www.timetotrade.eu

Indexation allowance was introduced in 1982 to offset the effects of high inflation, so that individuals didn’t have to pay Capital Gains Tax on illusory gains. For investors who currently own assets purchased between April 1982 and April 1998, indexation allowance effectively increases the deemed purchase cost for Capital Gains Tax purposes.

Investors wishing to minimise their tax liabilities under the new Capital Gains Tax regime should consider transferring assets to their husband or wife before 5 April 2008. By gifting assets to your spouse, it is possible to lock-in the accrued benefits of indexation and could save substantial amounts of money.

The Inland Revenue has confirmed that, on a no gain / no loss transfer to your spouse “indexation allowance will not be stripped out when the person who acquires the asset under a no gain/no loss transfer disposes of it after 5 April 2008. For example, in the case of an inter-spousal transfer, indexation allowance will continue to be included, where applicable, in arriving at the allowable cost to the transferee spouse.”

Dary McGovern, MD of timetotrade says "Many people stand to lose substantial indexation allowance benefits under the new Capital Gains Tax regime. If you act quickly it is still possible to retain those benefits. In addition, gifts to your spouse or civil partner don’t attract Stamp Duty at this time, so it really is a win-win opportunity - but you need to act quickly.”

To find out more about timetotrade visit www.timetotrade.eu


Transferring shareholdings is a relatively simple process, and most stock brokers will usually accept a letter requesting the transfer. The spouse will of course need a trading account – either their own or joint, but there is still time to open a new account if needed.

If you bought £10,000 worth of shares in April 1982, your deemed base cost after indexation is currently approximately £20,000.

If you were to dispose of the shares after 6 April 2008 (let us say for this example that they are sold for £35,000) you will lose your indexation allowance, the base cost will return to £10,000 and you will be looking at paying tax on a capital gain of £25,000.

If however you transfer the asset to your spouse on a tax free no gain/no loss basis before 5 April 2008, the base cost for tax purposes will be deemed to be the £20,000 and so you would be looking at tax on a lesser gain of £15,000 instead. By transferring the asset the accrued indexation allowance is preserved, even after April this year when indexation relief is abolished.

In this example you could reduce your Capital Gains Tax bill on a future disposal by as much as £1,800, simply by gifting the shares to your husband or wife.

Further Reading


Timetotrade is committed to providing innovative, professional affordable and reliable investment products which are tailored to meet the needs of today’s private investors and investments clubs. Investors can use timetotrade to manage the full cycle of their investments from acquisition through to tax planning and disposal and when it is time to trade they will be notified.

Founded in August 2005, Sensatus UK Ltd is one of a new wave of software companies to set up offices in Brighton, UK. Sensatus specialise in the development of innovative web-based financial technology for financial institutions and retail investors. Sensatus have launched a new range of web-based professional investment management products for private investors and investment clubs under its timetotrade brand.

Sensatus launched its 'timetotrade charting & technical analysis alerting tool’ in October 2006, its 'timetotrade investment club web-application’ in March 2007, its 'timetotrade Capital Gains Tax Tool’ in January 2008 and its 'timetotrade Performance Management Tool’ in March 2008.

Dary McGovern, Managing Director and Founder of 'Sensatus', is a seasoned trader of thirteen years and a dynamic presenter on stock market investment and trading strategies.


Victoria Madden, Marketing Director, Sensatus
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