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MC Question 1

On 1 July 2014, Sameer made a cash gift of £2,500 to his sister.
On 1 May 2015, he made a cash gift of £2,000 to a friend.
On 1 June 2015, he made a cash gift of £50,000 to a trust.
Sameer has not made any other lifetime gifts.

In respect of Sameer’s cash gift of £50,000 to the trust, what is the lifetime transfer of value for inheritance tax purposes after taking account of all available exemptions?

A £48,500
B £44,000
C £46,000
D £46,500