HC Deb 21 March 1940 vol 358 cc2149-51W
Mr. R. Gibson

asked the Chancellor of the Exchequer how many motor vehicles, including cycles, classed in categories, were licensed as at the end of February, 1940; what revenue had been received, respectively; and what were the corresponding figures for February, 1939?

Sir J. Simon

The particulars asked for are furnished below:

based on the estimated value in a free market?

Sir J. Simon

I would refer my hon. Friend to the provisions of Section 7 (5) of the Finance Act, 1894, under which the value of any property for Estate Duty purposes is to be taken at the price which, in the opinion of the Commissioners of Inland Revenue, such property would fetch if sold in the open market at the date of the deceased's death.