§ 87. Mr. BOYTONasked the Chancellor of the Exchequer whether he is aware that the liquidator of Barron's Cement Company, Limited, which, on the sale of its interest as a going concern, including freehold land at Rainham, Kent, in October, 1911, went into voluntary liquidation, cannot distribute the assets of the company owing to the delay of the Valuation Department of the Inland Revenue in issuing a certificate that no Increment Duty is payable; and if he will inquire into the cause of the delay?
§ Mr. LLOYD GEORGEThe liquidator of the company was informed by the Commissioners of Inland Revenue on 24th April last, that no Increment Value Duty was payable on the occasion of the sale referred to. No further intimation on this subject is necessary to enable the liquidator to distribute the assets of the company.
§ Mr. BOYTONDo I understand the right hon. Gentleman to say that a mere letter is sufficient authority for a liquidator to distribute the assets of the company?
§ Mr. LLOYD GEORGEThat is the view taken by the Inland Revenue.