The deceased lived with his wife and daughter. The property was owned 50/50 between husband and wife. In 2017 the deceased and the wife each gifted to their daughter a one sixth share in the property - Land Registry was updated so they held the property as tenants in common with a one third share each. They all continued the live in the property. The deceased died this year so obviously PET is now chargeable, but do I also have to declare it as a GWR?
Yes, each spouse has made a gift with reservation unless each spouse pays a market rent to the daughter for occupying the property [FA 1986 Sch 20 para 6(1)(a)] or the conditions of FA 1985 s102B are satisfied.