Grant of Probate Query

Snapper_P

I applied for probate when my father passed away in 2000 and am currently managing probate for my mother who recently passed away. In completing the necessary IHT400 form and Schedules for her estate I need to provide the net value of my fathers estate, the associated notes notes say values are shown on the Grant of Probate. The Grant for my father shows the gross value not exceeding £210K (IHT nil rate at the time) and the net value as not exceeding £40K.  I hadn’t paid much attention to this at the time but am confused as the net value from the IHT205 completed at the time shows a net value of my fathers estate as ~£123K comprising of ~£33K of assets held solely in my fathers name and the balance being 50% of the value of joint assets held with my mother, less funeral costs.  I had assumed the net value of his estate to be the £123K  but with the Grant of Probate showing it as less than £40K I’m wonder does the net value only take account of the assets that were held solely in his name i.e. excluding any share of jointly held assets? Otherwise is the Grant showing the wrong figure or am I missing something?