HC Deb 30 November 1916 vol 88 c503W

asked the Chancellor of the Exchequer what Statute is relied upon for levying Income Tax on land in some cases on what is called sale value, which fluctuate from extraneous causes and is fictitious where the land has never been sold, instead of levying it on inherent value ascertained for other purposes, less full cost of production?


If the hon. Member has in mind the assessments to Income Tax, Schedule B, in respect of the occupation of lands, I would refer him to Sections 26, 27 of the Finance Act, 1896, and to Section 22 of the Finance (No. 2) Act, 1915.

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