Simply transferring your home to your children while continuing to live in it does not remove it from your estate for IHT purposes. HMRCs reservation of benefit rules mean that if you continue to benefit from an asset you have given away, it remains in your estate as if you still owned it. This is one of the most common IHT misconceptions. Gifts of property with full transfer of occupation can be effective, but the CGT implications also need to be considered simultaneously.