90. The approximate amount of Corporation Profits Tax in assessment (less arrears shown due to be remitted) at the end of each of the last three years is estimated to be as follows: In many cases these arrears are subject to adjustment on appeal or otherwise, and a considerable part of the duty shown above may consequently fall to be discharged. VALUATION. 91. Particulars are given in Tables 82 and 83 of the work of the Valuation Department in connection with the valuation of land, including buildings, for the purposes of the Estate, etc., Duties, and of the Stamp Duty on voluntary dispositions inter vivos. 92. The Valuation Department is also charged with certain valuation work imposed upon us by the Acquisition of Land (Assessment of Compensation) Act, 1919, and with the valuation of licensed premises for the purposes of compensation in cases referred to us in accordance with the provisions of section 20 of the Licensing (Consolidation) Act, 1910. The total number of licences refused under the Licensing (Consolidation) Act, 1910, during the year 1923, was 378. The number of cases in which there was "default of agreement and approval," and which, in pursuance of the provisions of the Act, were in consequence referred to us for determination of the awards, was 106; of these, 98 cases have been settled. The aggregate of the awards issued by us was £234,800 in England and £8,888 in Wales—a total of £243,688. Eight cases remain to be disposed of. 93. The Valuation Department has continued to give advice and assistance to other Government Departments in connection with the purchase and sale of land, the fixing of rents, and other matters in which the National Exchequer is concerned, and also in connection with the sanctioning by Government Departments of Loans for the acquisition of property by Local Authorities for various public purposes. Valuations have been made during the year, in this connection, of an aggregate capital value of £23,857,209, and Rental Valuations of an aggregate annual value of £515,464. Table 82.-Valuations of Property for the purposes of Estate, etc., England.. Scotland.. GREAT BRITAIN 1921 England.. Scotland.. 42,741 89,694,916 96,415,387 6,720,471 7.49 4,847 14,113,244 15,145,419 1,032,175 7.31 47,588 103,808,160 111,560,806 7,752,646 7.47 561,716 9,083,700 9.04 9.41 5.67 Table 83.-Valuations of Property transferred by Voluntary Disposition for the Purposes of Stamp Duty on Gifts inter vivos. 94. The provision in the Finance (1909-10) Act, 1910, requiring the delivery of particulars of any transfer on sale of land or on the grant of any lease of land for a term exceeding 14 years, was repealed by the Finance Act, 1923. The following Table shows the number of such transactions of which particulars were presented to us during the year 1923-24 and in the ten preceding years. Table 84.-Sales and Leases of Land. Number of Transactions of which Particulars were Presented. Excluding Northern Ireland from 22nd November, 1921. † Excluding Scotland from 1st July, 1922. For the period from 1st April to 18th July, 1923, when the Finance Act was passed. |