From The Telegraph:
George Osborne, the shadow chancellor, is facing demands to “pay back” £55,000 in capital gains tax, which critics say he is morally obliged to pay after “flipping” his designated second property.
The Liberal Democrats said they had calculated how much capital gains tax Mr Osborne avoided by the way he designated his London family home. They called on David Cameron to force him to pay it back.
The Tory leader has clamped down heavily on backbench Tory MPs who have abused the expenses system, but he has yet to censure a senior member of his inner circle…
Lord Oakeshott of Seagrove Bay, the Liberal Democrat Treasury spokesman, said: “This is a real test of Mr Cameron’s leadership. He blackballed his country gentlemen with their moats and duck houses before their feet could touch the ground. But will he make his shadow chancellor pay back this tax?’’
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4 Comments
Good call. This is way worse than cleaning a ditch/moat. Or claiming but not getting money for a duck house.
Or claiming you live in Eastbourne when you live in London.
Oh no, wait a minute …
Actually he is “morally obliged” to pay just over £300,000 – the full amount of the unearned value by which his tax-payer funded second home has increased.
£55k is merely what HMRC obliges him to pay. Nowhere near enough. Come on Lord Oakeshott – let’s not short-change the taxpayer by letting Osborne get away with an 82% windfall.
Cough* Cough*
£2.4 in stolen money still unreturned, Rennard et al and you deign to lecture Osbourne!!!
You cheeky hypocritical load of chancers!