Inheritance tax: house with mortgage

[Thirsty]

Can't find an answer to this anywhere so hoping someone can help.

If I am left a property with an outstanding mortgage on it (and the mortgage is not covered by life assurance) is the inheritance tax calculated on the market value of the property or is the mortgage taken into account?

 

[Dermot]

If you have to either take on the mortgage or pay off the mortgage in order to inherit the property it will be the value of the house less the amount of the mortgage that will be deemed to be the inheritance

 

[Thirsty]

That makes sense, think Soltr was calculating wrongly,
thanks