Capital Gains on House Sale

A question about : Capital Gains on House Sale

Hi,

I bought a house 14 years ago for ЈX and lived in it for 8 years. When I moved out, I gifted the house to my wife and we let the house to tenants.

The house is now worth ЈY. I know that if I had kept it as my own, if I sold it now, the capital gains tax would be based on the proportion of the time I lived in it (8/14) and the gain (ЈY-ЈX).

However, I don't own it, my wife does. So, two questions:

1) If she sells it, will she have to pay Capital Gains Tax on the full price, ЈY as that is the gain she made?

2) Assuming the answer to 1) is yes, if she gifted it back to me again, could I use the 8 years and the ЈX pounds in my tax calculation?

Thanks

Best answers:

• https://www.taxinsider.co.uk/681-How_...o_Spouses.html
  might be of interest.
• Thanks to all who replied. The suggestions and links led me to a page on the HMRC site that says that a transfer of property to a spouse also transfers the purchase price and date for PPR purposes. As we were married and living in the property at the time, my wife is treated as having bought the house when I did.