THE DUKE OF DEVONSHIRE.

Otago Daily Times, Issue 19946, 13 November 1926, Page 22

THE DUKE OF DEVONSHIRE.

CHATSWORTH TURNED INTO A COMPANY. The Duke of Devonshire has turned his family estates into a company under the title of Chatsworth Estates (Ltd.). He is the seventh duke to take this step, which is necessitated by the crushing burden of taxation on large privatelyowned landed estates. By turning his estate into a company a landowner avoids excessive taxation, is enabled to deduct the running expenses from his income tax. and puts more money into developing it, and avoids death duties when he dies. . So heavy are death duties on land in Great Britain at present that it is estimated (says the Daily Express) that the bulk of privately-owned estates must be inevitably broken up within three generations of ownership—hence the rush to turn them into companies. Landowners who have already turned their estates into companies include the Duke of Portland (capital £780,000). the Duke of Rutland ("£500,000), the Duke of Marlborough (£200,000), the Duke of Grafton. the Duke of Buccleuch (£IOO,OOOI the Duke of Sutherland (£100,000). the Duke of Leinster, the Marquis of Zetland (£30,000), the Marquis of Northampton (£300.000). the Earl of Leven and Melville (£200,000), the Earl of Darnlev (£50.000). Lord Methuen (£150,000), the Earl of Carnarvon (£200,000). the Earl of Moray (£312,500), Lord Dalmeny (£100,000), the Earl of Berkeley, the Earl of Portsmouth, Viscount Ullswater. Viscount Novar, Lord Leconfield (£4OO.CPO). Lord Howard de Walden, Viscount Wimborne, and Lord Saltoun.