Query on joint tenancy

[landlord]

I have a joint tenancy of an investment property with my father. My mother has no involvement. Am I right in thinking that if he predecease me the property will be mine in total (it will not go to my fathers estate) and there will be no taxes to pay on the transfer. Thanks .....

 

[Gordon Gekko]

You are right on point one but potentially wrong on point two.

No stamp or CGT on the inheritance but if the value exceeded what's left of your Group A threshold, there'd be CAT.

 

[landlord]

Thanks GG
If there is still a mortgage on the property at the time of transfer, is it the net amount which will be taxed?