PROBATES OF WILLS, &C. [STAMP DUTIES.]—COMMITTEE. (Hansard, 5 March 1880)

§ THE CHANCELLOR OF THE EXCHEQUER

said, he had to move "that Mr. Speaker do now leave the Chair," and he would briefly explain to the House the purposes of the Resolutions which would afterwards be embodied in a Bill. It would be in the recollection of the House that last year a discussion was raised upon a Motion of the hon. Member for Stockton (Mr. Dodds), and, subsequently, upon a Resolution and Amendment moved by the hon. Member for East Sussex (Mr. Gregory). That Resolution met with the almost unanimous approval of the House, and it affirmed that it was expedient to re-consider and revise the progressive rates for probate duty, and to afford greater facilities for the settlement of legacy and succession duty, and to make other provisions for the relief of executors and administrators. That Resolution was adopted by a very large majority of the House, and the Government was therefore called upon to act upon it. Accordingly, he had, in concert with the Inland Revenue, prepared an amended scheme with regard to probate and administration duties. There were two points in which the present scale seemed to require some alteration. The first was in regard to the jumps that wore now made from one rate to another; and the second was the fact that the percentage of duty now fell considerably heavier upon small properties than upon large ones. Then, again, a distinction now existed between the duty payable upon testate and upon intestate estates. It would be convenient for the Committee and the House that he should reserve his observations until the scale was before them. He might, however, say that they had endeavoured to adjust the rates in such a way that all sums 531 above £600 paid 2½ per cent. They had abolished the distinction between testate and intestate estates, and they had made provisions by which estates under the value of £200 paid 1.33; under £350 1.60; under £500 1.70; between £500 and £600 2 per cent; and above £600 2½ per cent. There would also be found in the Bill that he should ask leave to introduce into the House provisions for enabling duty to be paid at once upon reversionary interests; the Commissioners were empowered, for a present payment, to give a discharge to executors and administrators from any future duty. There was also a clause which, he thought, would be found to be useful with regard to interest; and there was a further clause that would exempt from legacy duty estates under £100, in the same manner as small estates were now exempted from succession duty. He should move "that Mr. Speaker do now leave the Chair."