6. James died on 31 December 2019. Before his death he has gifted 80000 to his daughter and gifted 96000 in a trust on 31 Dec 2015. At the date of his death he owned the following assets: A main residence valued at 525,000 - this was left in his will to a direct descendent. This had an outstanding interest-only mortgage of 80,000. Motor cars valued at 13,000. Ordinary shares in Herbert plc valued at 44,000. Building society deposits of 15,000. Investments in individual savings accounts valued at 12,000, savings certificates from NS&I (National Savings and Investments) valued at 29,000 and government securities (gilts) valued at 24,000. A life assurance policy on his own life. On 31 December 2018, the policy had an open market value of 95,000 and proceeds of 120,000 were received following Jamess death. On 31 December 2018, James owed 1200 in respect of credit card debts and he had also verbally promised to pay the 5000 legal fee of a friend. The cost of his funeral amounted to 9,300. Jamess wife did not claim her NRB. Calculate the tax liability.