The Gazette 1944-46

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. 22