You should assume that today’s date is 15 March 2014.
Tobias has recently inherited the residue of his aunt Mildred’s estate.

Tobias will use some of his inheritance for the following purposes:

Gift to daughter
Tobias will make a cash gift of £100,000 to his daughter when she gets married on 29 March 2014. He has not made any previous lifetime gifts.

Required:
(c) Explain, with supporting calculations where necessary, the inheritance tax implications if Tobias makes a cash gift of £100,000 to his daughter when she gets married. (3 marks)