HC Deb 27 October 1966 vol 734 cc1434-6

Introductory

1. For the purpose of assessing levy in respect of a chargeable act or event (in this Schedule referred to as a 'subsequent charge able act or event') a credit shall be taken to have arisen from a previous chargeable act or event (in this Schedule referred to as 'the previous chargeable act or event') in the cases specified in paragraphs 2 to 4 of this Schedule.

Credit carried forward from Case C

2. Such a credit shall be taken to have arisen where the previous chargeable act or event consisted of beginning to carry out a project of material development in respect of which notice was served under section 38, section 66(3)(b) or section 68 of this Act, and, for the purpose of assessing levy in respect of an assessable interest in the land, or part of the land, comprised in the project,—

  1. (a) paragraph 7 or paragraph 20 of Schedule 5 to this Act had effect, and
  2. (b) the base value of that interest, ascertained in accordance with that paragraph, together with any amount which was allowable in accordance with Part V of Schedule 4 to this Act, exceeded the market value of that interest.

Credit carried forward from Cases D and E

3. Such a credit as is referred to in paragraph 1 of this Schedule shall be taken to have arisen where the previous chargeable act or event fell within Case D or Case E and notice in respect of which it was served under section 40 or section 41 of this Act and, for the purpose of assessing levy in respect of it, the appropriate deduction for the purposes of section 33(2) or section 34(2) of this Act exceeded the amount of the compensation or consideration.

Credit carried forward from acquisition under compulsory powers

4.—(1) Such a credit as is referred to in paragraph 1 of this Schedule shall be taken to have arisen where the previous chargeable act or event was a disposition whereby an interest in land was compulsorily acquired by, or was sold to, an authority possessing compulsory purchase powers and—

  1. (a) the circumstances of the disposition were such that a notice in respect of it was required to be served under paragraph 10 or paragraph 11 (or under both of those paragraphs) of Schedule 8 to this Act or, where the acquiring authority was the Commission, would have been required to be so served if the acquiring authority had been a body other than the Commission, and
  2. (b) the aggregate of the amounts specified in the next following sub-paragraph exceeded the value which, for the purpose of assessing levy in respect of the disposition, constituted the market value of the relevant interest.
(2) The amounts referred to in sub-paragraph (1)(b) of this paragraph are those amounts which, for the purpose of assessing levy in respect of the disposition in question, constituted—
  1. (a) the base value of the relevant interest;
  2. (b) any amount which was allowable in accordance with Part V of Schedule 4 to this Act; and
  3. (c) where the disposition was made in the circumstances specified in sub-paragraph (1) of paragraph 2 of Schedule 8 to this Act, the amount ascertained in accordance with subparagraph (2) of that paragraph.

Provisions as to interpretation of Schedule

5.—(1) In the following provisions of this Schedule, in their application to a case falling within paragraph 2 of this Schedule, 'the credit' means the amount of the excess referred to in sub-paragraph (b) of that paragraph, 'the original chargeable interest' means the assessable interest referred to in that paragraph, 'the original chargeable unit' means the land in which that interest subsisted, and 'the original chargeable owner' means the person who either was the developing owner in relation to the project in question by virtue of that interest (or by virue of that interest together with one or more other assessable interests) or (if he was not the developing owner) was entitled to that interest immediately before the date on which the carrying out of the project was begun.

(2) In the following provisions of this Schedule, in their application to a case falling within paragraph 3 of this Schedule, 'the credit' means the amount of the excess referred to it in that paragraph, 'the original chargeable interest' means the interest which for the purpose mentioned in that paragraph was the relevant interest, 'the original chargeable unit' means the land in which that interest subsisted and 'the original chargeable owner' means the person who immediately before the date which for that purpose was the relevant date was entitled to that interest.

(3) In the following provisions of this Schedule, in their application to a case falling within paragraph 4 of this Schedule, 'the credit' means the amount of excess referred to in sub-paragraph (1)(b) of that paragraph, 'the original chargeable owner' means the person in whom, immediately before the disposition referred to in that paragraph was made, the interest compulsorily acquired or sold was vested, and—

  1. (a) if, in the circumstances in which that disposition was made, a notice was required to be served under one (but not both) of paragraphs 10 and 11 of Schedule 8 to this Act (or if the acquiring authority was the Commission, would have been required to be so served if the acquiring authority had been a body other than the Commission), 'the land previously affected' means the other land in respect of which a notice was, or would have been, required to be so served, and 'the interest previously affected' means the interest in that land which the original chargeable owner had immediately before the disposition; and
    2. 1436
  2. (b) if, in those circumstances, a notice was required to be served both under paragraph 10 and paragraph 11 of that Schedule (or, if the acquiring authority was the Commission, would have been required to be so served if the acquiring authority had been a body other than the Commission) 'the land previously affected' means the aggregate of all the land in respect of which notices were or would have been required to be so served, and 'the interest previously affected' means the interest in all that land which the original chargeable owner had immediately before the disposition.

6.For the purposes of the application of the following provisions of this Schedule to a case falling within paragraph 2 or paragraph 3 of this Schedule, a subsequent chargeable act or event shall be taken to be a subsequent chargeable act or event affecting the original chargeable interest if—

  1. (a) the land, or part of the land, which, for the purpose of assessing levy in respect of it, constitutes the relevant land is or forms part of the original chargeable unit;
  2. (b) the interest which for that purpose constitutes the relevant interest (or, in Case B, the interest of the grantor) is. or in so far as it subsists in the original chargeable unit or part of that unit is, the original chargeable interest; and
  3. (c) the person who for that purpose is the chargeable owner (as defined by paragraph 2(1) of Schedule 5 to this Act) is either the original chargeable owner or a successor in title of the original chargeable owner, not being a successor such that he, or a previous successor in title of the original chargeable owner, derived title under a disposition for valuable consideration.

7. For the purposes of the application of the following provisions of this Schedule to a case falling within paragraph 4 of this Schedule, a subsequent chargeable act or event shall be taken to be a subsequent chargeable act or event affecting the interest previously affected if—

  1. (a) the land, or part of the land, which for the purpose of assessing levy in respect of it constitutes the relevant land is or forms part of the land previously affected;
  2. (b) the interest which for that purpose constitutes the relevant interest (or, in Case B, the interest of the grantor) is, or in so far as it subsists in the land previously affected or part of that land is, the interest previously affected; and
  3. (c) the person who for that purpose is the chargeable owner (as defined by paragraph 2(1) of Schedule 5 of this Act) is either the original chargeable owner or a successor in title of the original chargeable owner, not being a successor such that he. or a previous successor in title of the chargeable owner, derived title under a disposition for valuable consideration.

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