§ 43. Mr. WISEasked the Chancellor of the Exchequer the nature of the steps 1668 proposed or now being taken for the revaluation of property for the purposes of taxation?
Mr. YOUNGUnder the provisions of the Finance Act, 1922, steps are now being taken to revalue all properties in England and Wales, except properties in the Administrative County of London, with respect to which the valuation list for rating purposes is made conclusive for the purposes of Income Tax. Forms of return will shortly he issued by the assessors of Income Tax, and the General Commissioners will, in due course, issue notices of assessment and will hear and determine appeals against the annual values assessed.
§ Mr. GWYNNEWhat will be the cost of the revaluation?
§ Mr. GWYNNEHas no estimate of the cost been made?