Is gilts liable to capital gain tax?

I think you meant to ask whether "gifts" are liable to capital gains tax.

If it is a true gift within the meaning of the tax law (and not some sort of disguised payment or barter), there is no capital gain tax at the time the gift is given. There may, however, be a gift tax (which is a different kind of tax) on the donor.

If the recipient of the gift later disposes of the gift, that transaction may generate taxable capital gains for the recipient.