Mr. F. HALLasked the Secretary to the Treasury if, in cases in which Increment Duty is levied upon property changing hands, the increase in site value upon which the charge is made is recorded by the Commissioners of Inland Revenue; if so, whether this course was followed in the case of Mr. R. J. Lumsden, which has been the subject of recent legislation; and, if so, if he will state the original site value of the property that gave rise to the dispute and the revised valuation which now obtains and which will be the basis on which Increment Duty will be levied if the property should again be disposed of at a profit?
§ Mr. MASTERMANThe answer to the first part of the question is in the affirma-1076W tive. In the case referred to the site value on the occasion of the sale has not yet been recorded, as it is called in question in proceedings now pending. The original site value as finally adopted is £105, and this value will form the basis of future calculations of Incremnet Value Duty, credit being given for any duty which has previously been paid.