§ Mr. FELLasked if the tax on undeveloped land for the past year for an unascertained amount is now due, but will not be collected until the valuation of all the land in the country has been completed; and, if so, will the tax be then collected from the date when the particular piece of land is valued, or from the date of the completion of the whole valuation, or from what date?
§ Mr. HOBHOUSEThe Undeveloped Land Duty is now leviable in accordance with the provisions of the Finance (1909–10) Act, 1910. As far as possible priority will be given to the valuation of undeveloped land, and it will not be necessary to defer the assessment and collection of the duty until the valuation of all the land in the United Kingdom has been completed.
§ Mr. FELLMay I ask whether it is proposed to select certain properties and have these valued and to omit other properties?
§ Mr. HOBHOUSEI think it will be clear that with the view to the collection of the revenue from these taxes certain selected properties will have to be valued before others.
§ Viscount HELMSLEYWill the tax be retrospective or not?
§ Mr. HOBHOUSEThat will depend on the date of the passing of the Act.