179 / 328
5. Assets frequently omitted
(a)
Where securities are quoted ex dividend the
whole of the current dividend should be
included.
(Where such dividends are paid
without deduction of tax, income tax at the
standard rate may be deducted and the net
dividend only returned.)
(£) When an estate includes British securities a
refund of British tax deducted at source is
due to the estate. This refund (or an estimate)
should be included.
6. Valuation of unquoted shares in private
Companies.
This matter frequently gives
rise to queries
and it was the subject of an agreement as to pro
cedure between the Society and the Estate Duty
Office in 1959. Briefly, the procedure is that the
solicitor on receipt of instructions should im
mediately lodge particulars of the shares in the
Estate Duty Office, and without waiting for the
schedule of assets to be completed. A full note on
the procedure will be found in the Society's GAZETTE
for February, 1959.
7. Shares to which section 21 of the Finance
Act, 1956 applies.
Under this section it must be shown to the
satisfaction of the Revenue Commissioners that
the deceased had been beneficially entitled to the
securities in question from the date of the original
issue thereof or for three years preceding death and
if the necessary evidence in support of this is not
lodged with the affidavit and schedule of assets
same will have to be returned with a query.
8. Deceased described as " retired farmer "
or " retired merchant ".
Where a deceased person is so described in
the estate duty affidavit the Estate Duty Office
will require to have evidence as to how, when,
to whom and for what consideration the lands
or business were disposed of prior to death as
the disposition, if made within the three years
preceding death, affects the question of estate duty.
This question should be dealt with when the
affidavit is lodged and a copy of the relevant instru
ment should be lodged whenever the disposition
was otherwise than by way of bona fide sale.
9. Age of the deceased.
The affidavit contains a space for the age of the
deceased and this should always be filled in.
In
the past this was not a strict requirement but
the Estate Duty1
Office
indicate that in future
it will be necessary to put in the age as it is
required for internal statistical purposes.
The
information so obtained is not made available by
way of a check on those in receipt of old age pensions.
The Revenue Commissioners state that if the
foregoing procedure is adhered to in the completing
of schedules of assets for lodgment for Estate Duty
purposes much delay will be avoided by reason of
the fact that a great many of the affidavits will be
dealt with immediately and the duty assessed.
It is
pointed out that of the total of schedules of assets
presented for assessment in the first instance about
one third usually have to be returned with one
query or another.
Residuary Accounts
In completing Residuary Accounts
(a)
Securities should be Used in the same order as
in the inland revenue affidavit.
(b}
Discrepancies in the amounts of holdings,
appearing
in
the
residuary accounts
as
compared with those returned for estate duty
should be fully explained. Where these are
due to bonus or rights issues the dates of
issue should be stated.
The Council have not lost sight of the question of
delays in assessments due to staff shortages or other
internal difficulties in the Revenue Commissioners
Office and are continuing consultations with the
office on this matter.
REGISTRY OF DEEDS (FEES) ORDER,
1962.
The above Order has been made by the Minister
for Justice and it comes into operation on the ist
of January, 1963.
The effect of the Order is to increase the fees at
present authorised to be charged in the Registry
of Deeds. It replaces the Registry of Deeds (Fees)
Order, 1956.
BOOK REVIEW
The Administration of Justice in Ireland.
By V. T. H.
DELANY. Dublin Institute of Public Administra
tion, 1962. 8vo. Pp. 91. 14/6.
Dr. Delany has written primarily for administrators
an excellent and concise guide to the administration
of justice in Ireland ; perhaps the best method of
indicating the scope of the work is to summarise the
contents. Dr. Delany first analyses the nature and
sources of Irish law in relation to legislation,
judge-made law and equity; he then gives an
interesting summary to the background of the Irish