GIFTING property and tax?!?!?

[IceBoy]

Hi All,

My dad suggested he is thinking about gifting his BTL property to me and has asked me to start the research on what happens regarding:

Inheritance tax
Capital gains
Anything else I or he should be thinking about

So I understand that he must survive 7 years after the gift for me to be exempt from IH but what about CG tax?

What else should I be thinking about?

If he gifts it to me, can I then re-mortgage it and release some equity?

IceBoy