PUBLIC BURDENS 169 



the death of some other person again becomes 

 liable or would but for this sub-section have 

 become liable to Estate Duty. 



By this Act the Estate Duty is payable at the 

 date of sale when the timber, trees, or wood 

 are .sold apart from the land, and by prior Acts 

 it is also payable if at any time the timber, 

 trees, or wood are sold with the land. That 

 is, no Duty is payable until a sale. 



The concession given by the Finance Act, 

 1912, is that the value of the timber is not 

 aggregated with the value of the estate so as 

 to raise the scale on which Duty is payable. 

 The value of the estate without the timber 

 determines the scale of Duty for both timber 

 and estate. 



No Duty is payable on the sale of underwood 

 sold separately from the estate, but their value 

 is not to be taken into account in estimating 

 the principal value of the estate or the rate 

 of Estate Duty. 



There are two ways of valuing an estate, so 

 that the value of the timber, trees, wood, or 

 underwood is not taken into account. In the 

 first, the estate is valued at the price for which 

 it would then sell, if offered for sale with the 

 timber on it, and then the timber, trees, wood, 



