§ SIR G. BADEN-POWELLI beg to ask the Secretary to the Treasury, whether, in levying House Duty, the "annual value" is the same as the assessed value in Schedule A of the Income Tax; and, if not, then what is the definition of this "annual value"?
§ SIR J. T. HIBBERTIf the annual value of a house is given separately for the purposes of Schedule A, the same value is taken for House Duty purposes. If it is not given separately under Schedule A, a valuation on the same principle is made for House Duty. The definition of "annual value" in the House Duty Act is "the full and just yearly rent," that is, the full value at which the premises are worth to be let by the year.