§ Mr. Fauldsasked the Chancellor of the Exchequer whether, with reference to his written answers to the hon. Member for Warley, East, Official Report, 6 July, column 773, and Official Report, 25 July column 287, the Commissioners of Inland Revenue have, under their general responsibility, in recent years exercised their discretion to waive interest charges in respect of the value of works of art and museum objects accepted in satisfaction of estate duty and capital transfer tax.
§ Mr. Peter ReesIn a small number of cases in which property has been offered and subsequently accepted in satisfaction of a liability to estate duty or capital transfer tax the Inland Revenue has waived interest on that liability for a period following the receipt of the offer.
As I said in reply to the hon. Gentleman on 6 July, one of the recommendations made in the third report of the Expenditure Committee—Environment Sub-Committee—of Session 1977–78 relates to this point; the Government are still considering this recommendation.