Captain FABERasked whether, when part of an estate is sold at £100 per acre during the lifetime of the owner, Death Duties are charged on the whole estate at the death of the owner at that rate, or whether the whole estate has to be valued acre per acre; and, if not, on what basis the valuation is made?
§ Mr. LLOYD GEORGEThe valuations are not necessarily made on the basis suggested in the first part of the question, each case being considered on its merits and the valuation made accordingly.
Captain FABERIf after the first valuation is made part of an estate is sold for £100 per acre, will the remainder be calculated at £100 per acre or will there have to be a fresh valuation?
§ Mr. LLOYD GEORGEI would like the hon. Gentleman to put that question down.