HC Deb 03 July 1980 vol 987 cc677-8W
Mr. Faulds

asked the Chancellor of the Exchequer whether, with reference to his written answer to the hon. Member for Warley, East, Official Report, 25 June, column 203, he will provide that, when insurance or indemnity moneys have been collected in respect of a destroyed property which had been conditionally exempted from capital transfer tax, the owner may apply for the exemption of such sums from capital transfer tax arising as a consequence of his own decease, provided that he shall have notified the Inland Revenue of his intention to replace the destroyed object with a substitute exemptible object purchased with those moneys within a time limit to be agreed with the Inland Revenue.

Mr. Peter Rees

I shall let the hon. Member have a reply as soon as possible.