House registration

[musty]

We have purchased a secondary holiday home in the name of myself, my wife and our two adult children as joint tenants. The children made no contribution to the purchase funds.

As we are both in our late forties we saw the provision of funds for our childrens share of the purchase price as being a reasonably safe PTE, that in 7 years would no longer be part of our estate.

This secondary home will never be the PPR of any of us and is suitable only for holidays. If and when sold it will obviously be liable to CGT.

Is there any risk of it being treated as a gift with reservation? and if so is there anything constructive we can do to mitigate this risk; or indeed any other unforseen tax risk that the purchase may have engendered

[Peter D]

It is just a PET as there is no reservation as you all of you have unhindered access to the property as such and no individual actually live there. Regards Peter