Gift With Reservations Family Home

Hi, I currently own 100% of our four bedroom family home, living with my wife and two adult children. I plan to give 75% of the property to my two adult children without consideration, retain the remaining 25% and continue to live in one of the four bedrooms. Ths children will pay 75% of the outgoings of the property. As this is my principal residence I believe there is no CGT to pay? If I survive 7 years from the date of the gift, would the gift be considered a gift with reservations and form part of my estate for IHT purposes? Thank you.

Hi,
As its your main resident then there is no CGT to pay.
We cannot comment on future events due to any potential changes in legisaltion, however, you can see the guidance for current rules on gifts with reservations here:
Passing on a home
If you have any further queries relating to Inheritance Tax, please contact our Inheritance Tax team for advice.
Inheritance Tax: general enquiries
Thank you.