Gifting monies to daughters

[YTSS]

Hi

Would anybody be available to advise on the potential IHT liabilities for the following.
Myelf and my wife are planning to release money from our mortgage free house by remortgaging for approx. 250k.
This money will be given to our 2 daughters to purchase a house.
Is it a straightforward PET and tax only payable if one or both parents die.
If 1 parent dies (money gifted by both) what would the tax implications be. Is the money gifted by both parents or both?
What would the best way of the above being done to avoid as much tax as possible

Thanks

[YTSS]

I forgot to say on my post. My wife was diagnosed with breast cancer a number of years, so there is the possibility of here not surviving the 7 years. Does it matter who gifts the money to children. Is it best for one or both, does it make any difference. Maybe a strange question, but how is HMRC made aware of the gift and whether tax is paid etc

[maths]

Why are you raising this issue again when it was raised by you in your other post?