§ Mr. WEDGWOODasked whether, in cases where both site and buildings are valued as on the 30th April, 1909, under Part I. of The Finance (1909–10) Act, 1910, at a total value below their cost, and are subsequently sold for a larger sum than such total value, the whole of the excess is reckoned as increment of site value and charged with duty under the Act, or whether a proper allowance is made for the recovery which the sale price may show has occurred in the value of the buildings?
§ Mr. MASTERMANWhere a site and building are sold at a price exceeding the total value as on 30th April, 1909, no Increment Value Duty is payable in respect of any part of the excess which represents a recovery in the value of the building.
§ Mr. WEDGWOODHow is allowance for recovery made?
§ Mr. MASTERMANI must ask for notice of that question.