A deed of gift was finalised on 20 January 2023 and the title deeds were changed into my son's name. I have stayed in the property to sort out my move for two months only. Are there any consequences or implications in doing that? I intend to move out of the gifted property immediately.  

Arthur Weller replies 

When you transfer to your son, this is a potentially exempt transfer for inheritance tax (IHT) purposes. However, if you continue to benefit from the property (e.g., you continue to live in it), it is still included in your estate for IHT purposes because it is a ‘gift with reservation’ (GWR). When you stop benefiting from it, the seven-year ‘clock’ starts because the GWR has ceased. See HMRC’s Inheritance Tax Manual at IHTM04072 ('Reservation ceasing in transferor's lifetime').