§ Sir G. COURTHOPEasked the Chancellor of the Exchequer whether he is aware that the assessment of woodlands for Income Tax purposes has usually followed the assessment for local rates, the basis of which is laid down in Sections 3, 4, and 5 of the Rating Act, 1874, which are now to be repealed under Part V of Schedule 12, paragraph (1) of the Local Government Bill; and whether, in view of these circumstances, he will consider the advisability of re-enacting in the Finance Bill the provisions of Section 4 of the Rating Act, 1874, in respect of the assessment of woodlands for the purpose of Income Tax, Schedule A?
Mr. SAMUELThe provisions for determining the annual value of woodlands, or of other lands and hereditaments, for the purposes of Schedule A are contained in the Income Tax Act, 1918, and not in the rating Act to which my hon. and gallant Friend refers; and in these circumstances I do not consider that any amendment of the law is necessary.