§ Mr. STEEL-MAITLANDasked the Chancellor of the Exchequer whether he is aware that, owing to the delay in the levying of Increment Duty on the lease of certain premises in Bedford Arcade, Plymouth, which were part of an estate in bankruptcy, it has been impossible to close the estate, with the result that the creditors have been deprived of their dividends; that, in answer to communications by the trustee in March and May of the 2215W current year, the Inland Revenue Office have made no statement as to the amount payable and have taken no steps in assessing the value of the property; that, as an additional consequence of the delay, the trustee has been forced to renew the guarantee policy, thus saddling the estate with a payment which otherwise would not have been incurred; and whether he will reimburse the trustee for all such additional expense, and will take steps to prevent such dilatoriness on the part of the Inland Revenue Office in the levying of Increment Duty in future?
§ Mr. LLOYD GEORGEThe hon. Member is no doubt aware that it is impossible to determine the amount of Increment Value Duty payable in any case until the original valuation of the land is finally settled. In the case to which the hon. Member refers, the original valuation did not become finally settled until the 9th May. The assessment was made and the duty paid in June. I do not think there has been any avoidable delay on the part of the Inland Revenue Department, and I am unable to reimburse the trustee for the expenses referred to.