Gifting of property equity and IHT

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Newbie
in Cutting tax
I am trying to determine what arrangement is necessary to make a gift of part of the equity in my property to a grandchld to make the gift a PET(partially exempt transfer).
HMRC give written guidance on the treatment of the whole of the equity,by paying market rent to the granchild,but fail to give any guidance ,written or verbal,on the treatment of part equity gifting.There can really only be 3 answers
-you need to pay the full market rent
-you need to pay a pro rata rent based on the value of the gift and the the full market value
-there is no need to pay rent as I am still part owner,and continue to live in it.
Any help would be much appreciated
HMRC give written guidance on the treatment of the whole of the equity,by paying market rent to the granchild,but fail to give any guidance ,written or verbal,on the treatment of part equity gifting.There can really only be 3 answers
-you need to pay the full market rent
-you need to pay a pro rata rent based on the value of the gift and the the full market value
-there is no need to pay rent as I am still part owner,and continue to live in it.
Any help would be much appreciated
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Replies
if you want to make gifts to reduce IHT then do it with liquid assets not your home. Are you sure your estate would do be subject to IHT. What would the value of your estate be if you died tomorrow? How much of that would be down to the value of your estate? What is your marital status?