HC Deb 19 July 1910 vol 19 c1072
Captain FABER

asked whether, after the valuation of an estate is completed and part of that estate is sold at a higher figure than the valuation, Death Duties will be assessed on the whole estate at the higher figure; and, if so, whether, to meet this, a fresh valuation would have to be made by the owner?

Mr. LLOYD GEORGE

The answer to the hon. and gallant Member's question depends upon the particular circumstances of each case.

Captain FABER

Would the right hon. Gentleman make no definite statement?

Mr. LLOYD GEORGE

I could not make a definite statement on the principles of valuation. That question has surely to be decided by the courts of law.

Captain FABER

Will every landed proprietor have to go to court?

Mr. LLOYD GEORGE

I really do not see that there is much point in that question. Of course the principles of valuation are settled by the courts, and he has only got to value for Estate Duty exactly as if selling the property to a railway company.

Captain FABER

Then it will not make any difference whether a man's estate has seen sold at a higher price after being valued at a lower?

Mr. LLOYD GEORGE

I have already given an answer to that question, which is the question on the Paper.

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