§ MR. MOND (Chester)To ask Mr. Chancellor of the Exchequer whether, in valuing the estate of a person who holds a licence for the sale of intoxicating liquors, for the purpose of death duties, any, and, if so, what, valuation of the annual licence is adopted.
(Answered by Mr. Lloyd-George.) If a licence is valued separately from the licensed premises for the purpose of estate duty, the valuation depends on the nature and amount of the interest of the deceased in the licensed premises and on the particular circumstances of the case, as was indicated in the reply given by the then Chancellor of the Exchequer upon 20th June, 1905, to the hon. Member for the Appleby Division of Westmoreland.
§ MR. MONDTo ask Mr. Chancellor of the Exchequer whether, in valuing licensed property for death duties under Section 7 of the Finance Act of 1894, the Inland Revenue Commissioners proceed on the method laid down by Mr. Justice Kennedy, in the case of Ashby's Cobham Brewery, on 24th July, 1906, or adhere to the principles laid down in the Memorandum of the Inland Revenue Commissioners of 1905.
(Answered by Mr. Lloyd-George.) The Commissioners adhere to the procedure indicated in the paper of 3rd May, 1904.