Margaret died on 12 March 2016 leaving an estate valued at ￡450,000. On 12 July 2008 Margaret had made a gift of ￡15,000 to her daughter, and on 27 December 2010 she had made a gift of ￡75,000 to her son. These figures are after deducting available exemptions.What is the inheritance tax liability in respect of Margaret’s estate?
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