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The Solicitors' Journal - March 21, 1896

IN THE CASE of Re Countess of Oxford, Cartwright v. Del Balzo (1896, 1 Ch. D. 257), North, J., held that estate duty under the Finance Act, 1894, ought, as between a sum specifically appointed out of certain settled property and the residue of the same property, to be borne rateably.

29 March 2016

The property consisted of money settled on trust to be laid out in the purchase of land, and was treated in the judgment as if it were land. The tenant for life died after the Act came into operation; but it was not his property, and his executors had not to pay duty upon it: see section 6, sub-section 2. By section 6, sub-section 4 of the Act, "estate duty, so far as not paid by the executor, shall be collected upon an account," deliverable by "the person accountable for the duty," and that person, as appears from section 8, sub-section 4, is first the beneficiary, secondly the trustee, and thirdly every alienee or derivative holder.

The enactments referred to belong to the group of sections headed "Collection and Recovery of Duty and Value of Property," and do not seem to be concerned with the question how the burden of the duty is to be borne as between beneficiaries. The only express provision on this subject is section 14, sub-section...

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