EARL of RONALDSHAY
asked the Chancellor of the Exchequer if, on the sale of land by a deceased owner's executors, the officials of the Land Valuation Department of the Inland Revenue are entitled, under any circumtstances, to demand payment of Increment Value Duty in respect of the sale from the purchaser of the property?
§ The CHANCELLOR of the EXCHEQUER (Mr. Lloyd George)
The answer to the Noble Lord's question is in the negative.
§ Mr. JOYNSON-HICKS
asked the Chancellor of the Exchequer what was the estimate for the current year of the cost of collecting the £50,000 which he expected to receive from the Increment Value Duty?
§ Mr. LLOYD GEORGE
Apart from the cost of preliminary valuations, which are of permanent utility, the cost of collecting the anticipated yield of Increment Value Duty for the current year will be insignificant.