£1m tax-free bridge up for sale in Oxfordshire
Toll bridge exempt from tax is up for sale
A bridge being sold in David Cameron’s constituency will enjoy tax haven
status.
The toll bridge, at Eynsham in Oxfordshire, is expected to sell for at least
£1m. It enjoys tax free status, from laws introduced in King George III’s
reign.
The purchaser will be free of income tax on the £190,000 in tolls collected
each year, will be IHT free and act as a buffer against stamp duty and CGT,
reported
The
Times.
“Gordon Brown will hate it,” said Neil Mackilligin, senior partner for
auctioneers Allsop.
“It is a way of passing on your money without it falling into the hands of
the taxman.”
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