In UK we can gift/transfer funds to our spouse (The disposal is deemed to take place at ‘no-gain and no-loss’).
By default I can see that every asset withdrawal has an automatic capital gain/loss calculation. However if this was a transfer to spouse, then I need to tag this as gift.
Then I also need to take note of the cost basis and tell this to my spouse so she can modify her deposit with a cost basis.
Correct me if I am wrong on this formality/procedures.
Thanks