TaxPersonal TaxPrescott could be hit with £366,000 tax bill

Prescott could be hit with £366,000 tax bill

John Prescott could pay £366,000 in tax on his properties after losing his deputy prime minister's position

Former deputy prime minister John Prescott could paying as much as £366,000
in tax on his properties after losing his position.

Prescott has the use of a government-owned flat in Admiralty House and the
use of Dorneywood, a 21-room Buckinghamshire mansion. According to the
Daily Telegraph, Prescott could now be paying £366,000 in tax on these
previously grace-and-favour homes.

Mike Warburton, senior tax partner at Grant Thornton, said it would be
difficult for Prescott to avoid being saddled by the tax on his homes.

‘I have cases where the Revenue has pushed very hard to take tax from my
clients with circumstances very similar to this. It is difficult to see how Mr
Prescott’s arrangements would fall within the specific exemptions laid down in
the regulations,’ Warburton was quoted as saying.

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