CGT losses spouses

JansheerKahn

Have got different opinions on this so any help appreciated;

Can a spouse's CGT losses forward be used by the other spouse who has a chargeable gain under S1083 TCA or can only current year losses be transferred ?

A colleague received an opinion that for CGT losses forward of the spouse without the gain can only be used if the spouse with the asset first transfers their ownership and then the spouse with the losses can use same as opposed to just using the losses forward without such transfer

Pawwed Rig

Each spouse is dealt with separately

JansheerKahn

Thanks - so assets would need to be transferred inter spousal to enable losses forward to be used?

A well known tax author has a package of tax letters for sale, one of which states spouses can use each others CGT losses forward ....

Calahonda52

will the transfer not be at current market value?

JansheerKahn

No - lifetime transfers between spouses are at original cost.

I am querying whether CGT losses forward can be used by either spouse or if they are ring - fenced to each spouse which would then require an actual transfer of assets to the spouse with losses before a sale so that their losses could be used.