Ning gao

Ning Gao died on 15 April 2015 Ning had made the following lifetime gifts 1) On 1 March 2008 Ning made a cash gift of £50000 to her daughter,Bao 2)On 1 February 2009 Ning made a cash gift of £350000 to her son,Shinya on the occasion of his marriage Ning's estate,after the deduction of various debts and liabilities, was valued at £750000 Under the terms of her will Ning left £500000 to her husband and £250000 to her daughter Bao After inheriting part of her mother's estate Bao decided to set up a discretionary trust. She owned 5500 shares which represented a 55% holding in Prosper Ltd and on 1 March 2016 she transferred 1375 shares into the discretionary trust The values of the shareholdings in Prosper Ltd on 1 March 2016 were as follows Holding value per share up to 25% £5 26% to 50% £12 51% to 74% £25 75% or more £52 Bao's husband had died on 12 March 2007, and 70% of his inheritance tax nil rate band was not used The nil rate band for the tax year 2006/07 is £285000 and for the tax year 2008/09 it is £312000 Q what is the gross chargeable amount in relation to the gift to Shinya on 1 February 2009? my q how did it get already used exemption in 2007/08 answer transfer of value 350000 less marriage exemption (5000) ae 2008/09 (3000) ae 2007/08-already used 0 gross chargeable amount 342000