§ Mr. HUGH BARRIE
asked the Chancellor of the Exchequer whether his attention has been called to the hardship entailed on Irish farmers by the Inland Revenue Department insisting upon payment of Stamp Duty on the redemption value of the Land Commission mortgage on bought-out land where farms change hands or a death occurs; whether the practice of the Department is to tax as property what is really a debt to the State; and will he have this remedied?
§ Mr. LLOYD-GEORGE
When a farm changes hands on a sale, the redemption value of the annuity forms part of the consideration for the sale, and is properly charged with Stamp Duty under Section 57 of the Stamp Act, 1891, a section of general application to mortgages in the United Kingdom, which I do not see my way to modify. As regards farms changing hands on death, I may refer the hon. Member to the answer which was given on the 8th instant to a similar question by the hon. Member for North Meath.