Finance Act, 1980

Chapter IV

Resource Tax

Charge of resource tax.

30.—(1) This section applies to any person (other than a body of persons, or a trust, established for charitable purposes only) who at any time during a year of assessment (being the year 1980-81 or any subsequent year of assessment) occupies, or is deemed to occupy, farm land the rateable valuation of which amounts to £70 or more.

(2) A tax, to be called resource tax, shall be charged upon any person to whom this section applies for any year of assessment, and shall be charged at the rate of £3.50 for every £1 of the rateable valuation of the farm land occupied by that person for that year.