264 



FARMERS AND THE INCOME TAX. 



[Dec. 1836. 



Schedule B. in respect of the profits derived from the occu- 

 pation. The rate of tax for 1896-7 under Schedule A is 8d. 

 on the annual value, less certain deductions, and under 

 Schedule B. it is the same rate of Sd. on one-third of the annual 

 value without deduction. (Finance Act, 1896.) 



2. " Annual value " means the rack rent at which lands are 

 worth to be let by the year, that is, the yearly rent which a 

 tenant might reasonably be expected, taking one year with 

 another, to pay for the lands, if the tenant undertook to pay all 

 usual tenant's rates and taxes and if the landlord undertook to 

 bear the cost of repairs and the other expenses necessary to 

 maintain the property in a state to command that rent. The 

 Finance Act of 1894 authorises an allowance from the assess- 

 ment under Schedule A. of one-eighth part of the annual value 

 of the lands (inclusive of farm-houses, and other buildings if any) 

 as determined by the Commissioners of Taxes for the district. 



3. Under the Finance Act of 1896, any owner or other person 

 in receipt of the rent of any lands, although not the occupier 

 thereof, has the same right of appeal under Schedule A. as if 

 the assessment were made upon him. 



4. Any person occupying lands for the purpose of husbandry 

 only may elect to be assessed under Schedule D. on the average 

 profits of the three preceding years instead oi being assessed 

 under Schedule B. on one-third of the annual value. The election 

 of such person to be assessed under Schedule D. must be signified 

 by notice in writing addressed to the Surveyor of Taxes for the 

 district on or before the 5th of J une in each year. In Scotland 

 the time within which notice must be given to the Surveyor is 

 extended to 5 th of August. 



5. Meetings of the Commissioners of Taxes are held annually 

 between the 29th of September and the 25th of December for 

 the purpose of hearing appeals under Schedules A. and B. and D. 

 In England and Wales intimation of the dates of these meetings 

 is given by notice affixed to church and chapel doors, and any 

 person aggrieved by the assessments made upon him may appeal, 

 on giving 10 days' notice of his intention either to the local 

 assessor or to the district Surveyor of Taxes. In Scotland notice 

 of intention to appeal should be sent to the Surveyor of Taxes 

 for the district within 10 days after receipt of the notice of 

 assessment, and thereafter intimation will be given of the place 

 and date of meeting of the Commissioners. 



6. The Commissioners also hold meetings after the expiration 

 of the year of assessment for the purpose of hearing appeals 

 by persons who have paid income tax in the previous year 

 under Schedules B. or I), on amounts in excess of the actual 

 profits made in that year. 



7. Persons who desire to appeal with a view to, obtain repay- 

 ment on the ground of loss or diminution of profits must apply 

 to the Surveyor of Taxes within six months from the 5th of 

 April for information as to the time and place of meeting of the 

 Commissioners. 



