BusinessPeople In BusinessLegg, MPs and flipping

Legg, MPs and flipping

So there’s a furore going about MPs expenses again – rightly so in my opinion. Not even that bothered by Sir Thomas Legg (expenses auditor and inspector general) extending his powers all on his own accord. Not quite right under the law, in all probability, but who’s to argue it isn’t a moral necessity? That’s a horrible fudge I know, but that’s how most people will feel.
But am puzzled by the demand of Lib Dem leader Nick Clegg’s demand that Sir Thomas start looking at MPs’ flipping of second homes and whether some of them may have avoided capital gains tax when they sold up making nice little profits.
We don’t Sir Thomas for that – that’s what HM Revenue & Customs is for and if they are not looking at the issue, we ought to know why not.

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