The Finance (1909-10) Act 1910, sec. 2 (2), enacts-‘The site value of the land on the occasion on which increment value duty is to be collected shall be taken to be (a) where the occasion is a transfer on sale of the fee-simple of the land, the value of the consideration for the transfer . . subject . . to the like deductions as are made, under the provisions of this part of this Act as to valuation, for the purpose of arriving at the site value of land from the total value.’
Held, by Lord Chancellor Haldane and Lord Shaw, upholding a decision of the Court of Appeal, that the ‘like deductions’ were deductions calculated from a gross value and total value ascertained by valuation as provided in section 25, not ascertained by reference to the consideration, dissenting Lord Moulton and Lord Parmoor, who held that such gross value and total value should be ascertained by reference to the consideration.
Lord Chancellor (Haldane), Lord Shaw, Lord Moulton, and Lord Parmoor
[1914] UKHL 154, 52 SLR 154
Bailii
England and Wales
Stamp Duty
Updated: 17 January 2022; Ref: scu.620726
