HC Deb 29 May 1913 vol 53 cc330-1

asked the Chancellor of the Exchequer if he has received any representations as to the disadvantageous position of the building owner compared with that of the owner by purchase under the Land Valuation Clauses of the Finance (1909–10) Act, 1910, by reason of his inability to avail himself of the safeguards contained in the Act against the possibility of having to pay Increment Duty on what may be an actual monetary loss; and, if so, will he say if he intends making any amendment to these Clauses to enable the building owner to avail himself of the safeguards provided for the owner by purchase?


I have received certain representations on this point, but they fail to appreciate the facts that a building owner enjoys the same right as any other owner of claiming substitution for the original site value of a site value based on the consideration for a prior purchase, and that in the calculation of Increment Value Duty all enhanced value due to the presence of buildings on a site is eliminated. I do not think that the inequality suggested by the Noble Lord exists.