§ Mr. ROYDSasked whether valuers appointed under the Finance (1909–10) Act, 1910, in making valuations for the purpose of arriving at assessable site value, while allowing a deduction for a perpetual rent issuing out of the land, will not allow as a deduction a rent of a similar amount issuing out of the land and payable for a term of 999 years; and, if so, what are the reasons for the distinction?
§ Mr. LLOYD GEORGEThe answer to the first part of the hon. Member's question is in the affirmative. I am considering whether the law should be altered.
§ Mr. ROYDSasked if valuers appointed under the Finance (1909–10) Act, 1910, in valuing agricultural land, while allowing a deduction for the purpose of arriving at site value for live fences, will not allow as a deduction any value attributable to stone walls, dykes, wood or dead fencing; and, if so, what is the reason for the distinction?
§ Mr. LLOYD GEORGEI beg to refer the hon. Member to Section 25, Sub-section (2), of the Finance (1909–10) Act, 1910, which enumerates the things of which land is assumed to be divested when ascertaining full site value. That Sub-section restricts the definition of structures to those which are appurtenant to, or used in connection with, any building. Live fences are assumed to be removed, as they come within the category of things growing on the land.