THE EARL OF TANKERVILLEasked His Majesty's Government, whether it is a fact that succession duty on an annuity or life interest not given free of duty has to be paid out of the net income of the beneficiary after deduedon of income tax and sur-tax (if any), and if so, whether it was the intention of the various relevant Finance Acts that this should be the case.
LORD PAKENHAMThere is no provision in law under which succession duty payable by an annuitant or life tenant in such circumstances could be deducted in computing his income f or income tax and sur-tax purposes, and there can be no presumption that Parliament intended otherwise.