§ Mr. R. C. Morrisonasked the Financial Secretary to the Treasury what recent changes there have been in Customs and Excise methods of valuation of furniture for death duties; and to what extent the valuation is now based upon replacement prices.
§ Mr. PeakeThe basis of valuation of property for Estate Duty purposes as prescribed by Section 7 (5) of the Finance Act, 1894, is the market value at the date of death. There has been no change in the method of valuing furniture.