HC Deb 29 June 1925 vol 185 c2038W

asked the Chancellor of the Exchequer whether, in valuing small holdings for Estate Duty, the valuation is based upon the agricultural value of each holding as a small holding or on what each field might be expected to fetch if sold separately as accommodation land or building sites?


In cases where the net value of the estate does not exceed £1,000 the principal value of agricultural property, where no part of the principal value is due to the expectation of an increased income from such property is limited to 25 times the net Schedule A assessment. In other cases the principal value for Estate Duty is based on the market value of the property which may or may not exceed its agricultural value.