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any rate does not justify an entry in the registry
of exemption from duty." The certificate fre
quently contains the familiar proviso that in the
event of any variation from the estimated value
of the property, occurring as the result of a sale
within a period of six years from the death of the
deceased,
the affidavit and account may be
subject to readjustment. As the purpose for which
the certificate is required is, in many cases, to
enable the personal representatives to distribute
the estate the above-mentioned proviso nullifies
its effect as a form of protection to the executors
unless they are prepared to delay distribution of
the assets for six years.
Correspondence has taken place between the
Society and the Controller of Death Duties in
which it was suggested on behalf of the Society
that where an application is made for a certificate
of discharge from death duties the Revenue
Commissioners should decide once and for all
what value they will accept in respect of the
property and issue an unqualified certificate on
that basis. It was further suggested that as Section
11 of the Finance Act, 1894, is limited in its
application and as the present certificate No. 149
does not appear to be a statutory certificate, it
would be advisable to seek statutory authority
for the issuing in proper cases of a certificate
which would relate to all death duties and would
discharge both the property and the personal
representatives or other accounting parties from
liability for such duties. The following is an ex
tract from a letter received by the Society from
the Revenue Commissioners : "It is pointed out
that, under the practice at present prevailing, if
the Commissioners determine a value for real or
leasehold property at a figure different from that
placed on it by the accountable parties, and, if
such value is either accepted by the parties or an
alternative value is fixed as a result of an appeal to
the official referee, the assessment of the additional
estate duty made on the basis of the value as so
determined, or as fixed on appeal, is final and con
clusive and cannot be re-opened by the Com
missioners in the event of the property being sold
at a higher price, or by the parties in the event of a
sale taking place at a lower figure. It is only in
those cases where the Commissioners of Valuation
raise no question on the value placed on the
property by the parties that an additional assess
ment of estate duty is made in the event of a
subsequent sale at a higher price within the period
of six years from the date of death. But it is
pointed out that it is also open to the parties to
have the question of value in those types of cases
re-opened in the event of a subsequent sale at a
price lower than the original estimate." It would,
therefore, appear that in cases where a certificate
of discharge from death duties, qualified by the
above-mentioned proviso, is issued as the result
of the Commissioners of Valuation having raised
no question on the value of the property as
returned for death duties, the proper course for
the executors to adopt in order to have the
proviso discharged is to request that the Com
missioners should determine a value for the
property. While it is not apparent that the Com
missioners are under any statutory obligation to
have the value of the property so determined, they
would probably agree to have it done in proper
cases. The duty assessed on property so valued
will be final and conclusive and not liable to be
reopened by either the State or the taxpayer.
THE REGISTRY.
THE Council has decided to set up a Register for
solicitors. This Register will be kept in three
Sections :—
SECTION A : Practices for sale, Partnerships and
Assistantships vacant.
SECTION B : Practices, Partnerships and Assist
antships Wanted.
and
SECTION C : Miscellaneous
information
re
quired, books, office equipment,
etc., wanted or for sale, etc.
REGULATIONS :
1. The fees payable for each entry in each Sec
tion of the Register will be, as follows :—
Members of the Society : 3/- for 30 words or less
and Id. for each additional word over the
first 30.
Other Solicitors : 6/- for 30 words or less and 2d.
for each additional word over the first 30.
2. All entries must be verified to the satisfac
tion of the Society which will be at liberty to
reject or disregard any entries which do not appear
to it to be suitable or genuine. Each entry must be
accompanied by particulars of the sender's name
and address and must specify the Section of the
Register in which it is to be made.
3. To avoid unnecessary correspondence, entries
will be considered only when accompanied by the
appropriate fees.
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