I would like to pass my properties on to my children using the CGT allowance. Also I would like to understand the IHT benefits of passing on my company shares (with property in it) to children for free. There will be no gift with reservation (GWR), but I want to do this efficiently. 

Arthur Weller replies:  

Each individual only has a capital gains annual exemption of £12,300 (2010-21). In theory you could transfer assets to children each year in a way that the gain on those assets is no more than £12,300. Strictly speaking HMRC don't like it as you can see here  (fragmentation), but the likelihood of challenge is small. But such a strategy is not so practical. If you have a few properties, quite likely the potential capital gain on them is a lot more than £12,300, so it could take a number of years to transfer. And by that time the gain could have increased. And you would need to live for seven years after the date of the gift for the gift to fall out of your estate, pursuant to the IHT rules.