DUTY ON PROPERTY SUBJECT TO LOAN,

HC Deb 28 October 1909 vol 12 c1175

Mr. PATRICK WHITE

asked the Chancellor of the Exchequer whether, under Section 61 of the Finance Bill, in the event of a person dying leaving chattel property valued at £300 and land purchased under the Land Acts valued, under Sub-section 5 of Section 7 of the principal Act, subject to the loan, at £250, but the market value of which was estimated at £800, he will state if the duty would have to be paid on £550 or £1,100?

Mr. HOBHOUSE

Upon the facts stated, the duty would be payable on £550.