UK: Support no gain/no loss for gifts to a spouse
acknowledged
Emma - CoinTracker
Users Feature Request:
In the UK, gifts to a spouse or civil partner you live with are treated as no gain/no loss. Currently, CoinTracker treats outgoing transactions categorized as Gift as taxable disposals for UK users, so these transfers show a capital gain or loss on the Taxes page.
Provide:
- An option to mark a gift sent to a spouse or civil partner as no gain/no loss.
- Carry the sender's original cost basis over to the receiving spouse's account.
What is the workaround?
Keep the transaction categorized as Gift and exclude the gain or loss when filing. On the receiving spouse's account, categorize the incoming transaction as Gift and edit the cost basis to match the sender's original cost.
As a user, what can I do?
You can upvote this feedback post to indicate you would like this feature added.
Keywords: UK, spouse, civil partner, married, gift, no gain no loss, transfer to spouse, HMRC, non-taxable gift
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Sarah R - CoinTracker
Merged in a post:
Gifts from my Coinbase account to spouse's Coinbase account:
S
Salmon Cobra
Your bot: Because the RAY was sent to your spouse’s wallet, CoinTracker treats it as a Send to an external wallet—not a Transfer between wallets you own. You can manually change the transaction category to Gift using transaction tags.
Me: I have changed this to gift but it des not affect my taxes page?
Your bot: I’m sorry the Gift category isn’t changing your tax page as expected. Please check whether this issue matches an open bug at Product Feedback.
Me: gifts between married couples are considerd tax free in the UK. Surely cointracker must accomodate this in its taxes page?
Sarah R - CoinTracker
Merged in a post:
Gifts to Spouse
S
Salmon Cobra
Gifting to a spouse (in the UK) is not taxable. Please add an option for this
Someone previously requested on October 31, 2024
Emma - CoinTracker
updated the status to
acknowledged
A
Actual Muskox
Emma - CoinTracker