Ed & Yvette Profit Handsomely

So who did really well yesterday? Not small businessman, wacked with an 80% hike in capital gains tax when they sell their business at retirement. Alternatively if they work themselves to death dealing with regulatory red tape and hand the business on to their children, Brown and Darling will take, compared to the Tories, an extra £560,000* off the bereaved children. So much for rewarding enterprise.

If you own two homes you just got a handy reduction from 40% to 18% on capital gains. Is it a coincidence that almost all MPs own two homes? The constituency and Westminster home owners already benefit from a tax-free allowance worth £40,000 annually to pay their mortgages. Now they can sell the taxpayer funded second home and only pay the reduced capital gains – a 55% tax cut for MPs.

Mr and Mrs Balls are paid by the taxpayers quarter-of-a-million a year between them, so hard done by are they that they still claim tens of thousands extra in mortgage subsidy on top. Now with the new changes they will be able to sell that second home you paid for and they will pay only 18% tax on it. No wonder they are laughing…

UPDATE : A co-conspirator reminds Guido not to forget the Miliband boys successful efforts to award themselves an IHT tax cut. David Milband is today living in a £ 1.5 million ultra-fashionable-Primrose Hill townhouse at the centre of a complex inheritance-tax avoidance scheme. He shamelessly exploited a loophole which he used to reduce his death duty bills.

When his father Ralph died in 1994 aged 70, leaving a large estate, the Miliband boys agreed a ‘deed of variation’. The cunning move meant that 40% of the equity of the Primrose Hill home was transferred to Ed and David, who were each given a 20% share in the house neatly evading the tax bill.

*Could be an incorrect figure, see the debate in the comments. Guido is not an accountant.




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

A senior Brexiter:

“If Theresa and Julian have sold us out here they are in real trouble. She reassured us all at the 1922. There is no way she can recover if she has now fucked us over.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Eurotunnel: Don’t Buy Border Scaremongering Eurotunnel: Don’t Buy Border Scaremongering
CCHQ Defaced With Anti-Heathrow Graffiti CCHQ Defaced With Anti-Heathrow Graffiti
Labour Parliamentary Candidate Distances Herself From Rothschilds, ‘Zion Scum’ and ‘Fake Jews’ Tweets Labour Parliamentary Candidate Distances Herself From Rothschilds, ‘Zion Scum’ and ‘Fake Jews’ Tweets
Saj: Time to Review Scheduling of Cannabis Saj: Time to Review Scheduling of Cannabis
Sally Bercow: We’re Not Packing Bags Yet Sally Bercow: We’re Not Packing Bags Yet
Shouty Cracker Lord Moat’s Mask Slips Shouty Cracker Lord Moat’s Mask Slips
Jolyon’s Mystery £100,000 Donor Jolyon’s Mystery £100,000 Donor
Sandbach: I”ll Report Non-Constituents to Police Sandbach: I”ll Report Non-Constituents to Police
How Dominic Cummings Cost Taxpayers £20 Billion How Dominic Cummings Cost Taxpayers £20 Billion
Collins Data Breach Collins Data Breach
Onward to Higher Taxes Onward to Higher Taxes
Meet Love Island DfE Adviser Meet Love Island DfE Adviser
Question Time Runners and Riders Question Time Runners and Riders
Thomas Markle: Harry “Open To” Brexit Thomas Markle: Harry “Open To” Brexit
Watch: AC Grayling Vs Andrew Neil Watch: AC Grayling Vs Andrew Neil
In Full: 103 Resignations Under Corbyn In Full: 103 Resignations Under Corbyn
Banks Legals Verhofstadt Over Putin Tweet Banks Legals Verhofstadt Over Putin Tweet
Hypocrisy of Chuka Hypocrisy of Chuka
Daily Brexit? Daily Brexit?