31.3 On 5 December 2009, Nicholas makes a gift of £80,000 (after deduction of all relevant exemptions) to a relevant property trust. His only previous chargeable lifetime transfers were in June 2000 (gross chargeable value £200,000) and July 2004 (gross chargeable value £281,000). Calculate the lifetime IHT payable in relation to the £80,000 gift and state the due date of payment:

(a) if the trustees pay the tax

(b) if Nicholas pays the tax.