§ MR. BLACK (Banffshire)I beg to ask Mr. Chancellor of the Exchequer, in view of the fact that it is customary in Scotland to value separately the goodwill of 760 licensed premises for estate duty purposes, will he state how many years purchase of net profits is usually accepted in Scotland as a fair valuation of goodwill of such businesses: and what is the average annual amount of licence values on which estate duty has been paid in Scotland during the last three years.
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. AUSTEN CHAMBERLAIN,) Worcestershire, E.The practice in Scotland in valuing the goodwill of licensed premises does not differ materially from the practice in England; and there are no statistics available that would enable the Board of Inland Revenue to give an answer to the Questions asked.