§ 38. Mr. B1RCHALLasked the Chancellor of the Exchequer whether he is aware that the executors of a depositor and shareholder in Farrow's Bank, living 635W in Leeds, have failed to obtain a refund of the Estate Duty paid on such deposit and shares although nearly the whole value disappeared when the bank closed; and whether he will issue instructions that a refund in full is to be made?
Mr. YOUNGIf the hon. and gallant Member will furnish my right hon. Friend the Chancellor of the Exchequer with the name and date of death of the deceased person in whose estate the question has arisen, he will cause inquiry to be made. He would, however, remind him that Estate Duty is charged on the value of the assets as at the date of death, and the fact that the assets subsequently become valueless or disappear does not constitute a ground for repayment of duty.