Estate Duty (Land, Valuation)

HC Deb 19 October 1943 vol 392 cc1234-5W

Sir H. Williams

asked the Chancellor of the Exchequer whether, in valuing land for the purposes of Death Duties, it is taken at its value on 31st March, 1939?

Sir J. Anderson

No, Sir. Under Section 7 (5) of the Finance Act, 1894, all property passing on a death has to be valued for Estate Duty purposes at the market value at the time of death.