HC Deb 03 August 1922 vol 157 cc1667-8
43. Mr. WISE

asked the Chancellor of the Exchequer the nature of the steps proposed or now being taken for the revaluation of property for the purposes of taxation?

Mr. YOUNG

Under 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. GWYNNE

What will be the cost of the revaluation?

Mr. YOUNG

I cannot say.

Mr. GWYNNE

Has no estimate of the cost been made?

Mr. YOUNG

I must have notice of that question.