Beware gifts with reservation

In his article in the Telegraph today, Mike Warburton sparks much to think about for families considering their inheritance tax burden.
Careful estate planning can fall foul of the inheritance tax rules if not checked regularly.
For instance, parents gifting the family home to their children need to pay the required rent to stay at the property, to comply with the gift with reservation legislation designed to prevent gifts with ‘strings attached’.
The importance of regular rent reviews to ensure full market rent has been paid cannot be overstated to satisfy the conditions for an outright lifetime gift. The tax rules around gifting property are complex and legal advice should be taken.