Mr Alexander, who was appointed on Saturday after the resignation of fellow Liberal Democrat David Laws, designated the property as his second home for the purpose of claiming parliamentary expenses but described it to HM Revenue and Customs as his main home.
Last night Mr Alexander admitted that he took advantage of a loophole to legally avoid paying CGT on the sale of the south London property for £300,000 in June 2007.
It just keeps on getting better, doesn\’t it?
Same old trough.
We had Wee Dougie, now we have Wee Piggy Alexander.
How is it scandalous that this bloke took advantage of a legal way to avoid CGT?
What Peter said. Especially given the rule exists to allow you to move house, then sell the old house, which is pretty much what he did.
The story here is the Telegraph scraping the barrel.
Hang on, he claimed expenses for it as a second home, but then told IR it was his main home to avoid tax. And he is an “honourable man” who is thought fit to govern us. I have news for you MattGB, he is a crook. Try pulling a switch such as that on the IR and see where that gets you. To a man of honour, that is something you do not do.
Oh balls. The house was once his Principal Private Residence, or whatever the jargon is. Then he bought a constituency house and the London house became his “second home” (ditto), and so he could legitimately claim expenses on it. Then he sold it, but because he had had it as his PPR within the previous three years, there was no CGT to pay – just as there wouldn’t be for me or thee in those circumstances. So there is bugger all to fuss about unless (i) one is a dimwit, or (ii) pig ignorant, or (iii) the Telegraph piece was so ill-written that my understanding of it is inaccurate.
@6 your understanding is spot on, and Derek is a twat.