§ MR. CATHCART WASON (Orkney and Shetland)To ask Mr. Chancellor of the Exchequer whether he is aware that the Estate Duty Department at Somerset House require payment of Estate Duty in this country in respect of colonial securities belonging to deceased persons domiciled in a British colony where the bonds, debentures, or certificates representing such securities are locally situate in this country, notwithstanding that such securities have already paid Estate Duty in the colony; and, if so, will he remedy this state of affairs by the insertion of a clause in the forthcoming Finance Bill which shall be retro-active, and in the meantime direct the authorities to suspend proceedings for the recovery of 541 Estate Duty in any case where Estate Duty has already been paid in a British colony.
(Answered by Mr. Austen Chamberlain.) It is correct that Estate Duty is payable in this country in respect of colonial securities belonging to deceased persons domiciled in a British colony or foreign country where the documents of title are in this country at the time of the death and the securities are marketable property here. This rule applied equally to the old Probate Duty, which the Estate Duty replaced, and there seems no sufficient reason for an alteration of the law.