Shola made the following lifetime gifts during the 2015/16 tax year. He has previously made no other lifetime gifts. (1) 27 September 2015 £30,000 to his daughter (2) 29 December 2015 £ 475,000 into a trust- Shola paid any inheritance tax
What is the lifetime inheritance tax liability in relation to the lifetime gift on 29th December 2015 ? A £30,000 B £36,000 C £28,800 D £37,500