§ Mr. Johnasked the Chancellor of the Exchequer what additional tax revenue would be yielded by abolition of the schedule B option for owners of commercial woodlands.
§ Mr. MooreThe revenue cost of the election available to an occupier of commercial woodlands to be assessed under schedule D instead of schedule B is tentatively estimated at £10 million for 1985–86.
§ Mr. Johnasked the Chancellor of the Exchequer (1) for each of the last 10 years, what was the number of instances in which commercial woodland changed from taxation under schedule B to taxation under schedule D; what was the total area of land involved: and if he will give equivalent figures for changes from schedule D to schedule B;
(2) how many owners of commercial woodland have opted for taxation under schedule B and schedule D, respectively; and what area of commercial woodland is taxed under each schedule.
§ Mr. Johnasked the Chancellor of the Exchequer on what basis commercial woodland is valued for purposes of schedule B taxation; and what is the average valuation per acre.
§ Mr. MooreThe assessable value of woodlands for the purpose of schedule B is one-third of the annual value of the land in its natural and unimproved state.
The average value per acre used for schedule B purposes is 45p.