HC Deb 22 November 1976 vol 919 cc896-7W
Mr. Farr

asked the Chancellor of the Exchequer if he will now make a statement about the manner in which sites of special scientific interest and other sites of public concern will be treated so far as capital transfer tax is concerned.

Mr. Denzil Davies

When a transfer of land is made it may be granted conditional exemption for capital transfer tax if the Treasury designates the land as being of outstanding scenic or historic or scientific interest and the undertakings required by the legislation are forthcoming. In judging what will be outstanding scientific land a starting point will be if the property is in an area designated as a national nature reserve or as a site of special scientific interest (SSSI) in Great Britain or in a designated area of scientific interest (ASI) in Northern Ireland. Land in a national nature reserve can be expected to qualify if the appropriate conditions are met. So, too, can land within an SSSI or ASI provided that it meets the required standard. Some land at present outside such designated areas might qualify for designation and for exemption if it proved to contain the necessary degree of scientific interest.