HC Deb 24 March 1949 vol 463 c54W
52 and 53. Mr. Assheton

asked the Chancellor of the Exchequer (1) on what basis claims under the Town and Country Planning Act for loss of building development value are assessed for Estate Duty or Succession Duty;

(2) on what basis claims under the Town and Country Planning Act for the loss of development value in relation to minerals are assessable under Estate Duty and Succession Duty.

Mr. Glenvil Hall

Claims under Part VI of the Town and Country Planning Act, 1947, for loss of development value whether in relation to building value or minerals, are regarded as property of which the amount or value is not known at the date of death. Under Section 6 (3) of the Finance Act, 1894, satisfaction of the duty is deferred until their amount is known. Legacy Duty and Succession Duty are dealt with similarly.