What would be the most tax-efficient way to leave your (mortgage-free) property to a child? 

Arthur Weller replies  

If the individual's estate is small enough so that including this property in their death estate will not result in any inheritance tax, then the most tax-efficient way to leave this property to their child is just to leave it to them in their will; in other words, wait until death to transfer. There is no capital gains tax (CGT) on death, so any potential capital gain is 'washed out'.  

If that is not the case, there is a strategy that works in a small number of cases. See section D19 on page 53 re 'gifts between spouses' on HMRC’s general anti-abuse rule guidance (https://tinyurl.com/GAAR-D19-p53).