§ 36. Mr. JAMES HOPE
asked the Chancellor of the Exchequer whether it is the practice of the Commissioners of Inland Revenue to claim Undeveloped Land Duty from a purchaser, who has purchased land bonâ fide for building purposes and commences development immediately on completion of the purchase, for that part of a financial year which has elapsed before the development commences?
§ Mr. LLOYD GEORGE
If not paid by the vendor prior to the sale, the duty would be payable by the purchaser, who presumably takes account of the liability in negotiating the purchase price.