J S

I own a rental property with my wife (joint tenancy). The current split of ownership is 50% each and I would like to change the beneficial ownership split to 99% and 1%. There is currently a mortgage on the property in joint names. I understand that in some circumstances, stamp duty is payable if there is a 'chargeable consideration' when the transfer is made. Please can you advise if this proposed transfer would involve a chargeable consideration and therefore incur stamp duty charges?