This is a topic with which I am not familiar. I've taken a quick scan over some HMRC pages on CGT.
Does this mean that I can transfer some assets (let's say ITs, UTs, shares) to Mrs MS and there will be no CGT liability incurred? However, am I right in thinking that she will 'inherit' whatever my costs for those assets were and that these would then be used for calculating her future CGT liability when she disposes of those assets?
This could be useful to effectively transfer the future income and hence the income tax liability on that income to Mrs MS without incurring CGT (at least not until those assets are disposed of).
I'm just looking for guidance as to whether my thinking on this subject is correct at this point. It would be nice to find a way to 'lose' the CGT liability altogether, but that's hoping for too much, I think. ;-)