§ Mr. Boyceasked the Chancellor of the Exchequer whether post-war Income Tax credits are regarded as part of a taxpayer's estate in event of his death; and, if so, whether Estate Duty is payable in respect thereof?
§ Sir K. WoodIn the event of the taxpayer's death before the date fixed for payment of the post-war credit, the right to receive the credit passes to his personal representatives, who may dispose of it as part of his estate, and the amount of the credit is exempted from Death Duties by Section 7 (4) of the Finance Act, 1941.