§ 31. Sir J. D. REESasked the Chancellor of the Exchequer whether Succession Duty on estates under £3,000 of officers killed in action is levied from their widows; and, if so, what are the concessions actually made in respect of such estates and of larger estates in similar circumstances?
§ The CHANCELLOR of the EXCHEQUER (Mr. McKenna)Under the Death Duties (Killed in War) Act, 1914, estates of persons to whom the Act applies are wholly exempted from Death Duties on passing to the wife or lineal descendant, if the value of the estate does not exceed £5,000. If it does exceed that figure, the first £5,000 is removed from charge, while the duties on the remainder are discounted for a period equal to the normal expectation of life of the deceased at the time of his death.