Monday, May 08, 2006

Prescott liable for massive tax bill?

According to a leading tax expert, Jon Prescott should be paying £366,000 tax a year on his grace-and-favour properties because the changes that have occured to his "job". Basically, you are exempt from tax if properties are a required part of ones role. Given that Prescott now only appears to have a title rather than a role he is probably no longer exempt.

More details in the Telegraph

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