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Deductions in Determining the Estate Duty Base

24.22. The base of the estate duty should be the value of assets included in the base less the amount of all liabilities of the deceased. In the case of contingent liabilities, an estimate should be made and allowed. The Committee considers that, in addition, certain other deductions should be allowed, including funeral expenses incurred in relation to the deceased (subject to a ceiling), and the cost of valuations required in connection with the assessment of duty.

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