§ 46. Sir J. Lucasasked the Chancellor of the Exchequer what is the procedure of the Inland Revenue when an 80 per cent. death duty is levied on an estate valued at death, but whose executors cannot pay by reason of such a diminution of stock exchange values at the date of probate being granted that the estate is bankrupt and in debt to the Exchequer; and what allowance is given to dependent relatives and/or legatees, more especially on the estates of which the deceased was merely the life tenant unable to touch capital during his lifetime.
§ Mr. MacDermotSuch arrangements would be made as suited the circumstances of the case.