The Times and the Lobby correspondents finally caught up with Guido on the subject of the disgraced former Home Secretary’s retention of his Belgravia des. res. at our expense. Now lets see if they catch up with my story about it being a taxable benefit. The property is worth £3m. So the annual mortgage would be £150,000ish – that is the value of the taxable benefit. So he’ll be hard pushed to pay his tax bill on his backbench salary of £57,405.
Remember forms have to be in to the Inland Revenue by 31st January – better fast track it!