Hacked by Loard Mahdi

Read more...

Breaking news from the BBC Paper tax returns to be replaced by digital by 2020

Read more...

MPâs and the BBC tax arrangements 04/10/12

Read more...

Most wanted tax fraudster wants to be arrested.

Read more...

Have you used you annual Capital gains Exemption? March 2012

Read more...

Contact Us

News Items

Tax Tips

Brilliant with numbers
Great with people
Clear and precise with advice
Timely and cost effective
In touch with issues that face our clients
Mindful of our client’s long term strategic goals


Helping Your Business is Our Business


Call us now on 023 8083 6900 ABDS Home

Tax Tip

Minister denies avoiding home tax.

Culture secretary Maria Miller has denied trying to avoid capital gains tax on the sale of her London home.

The Daily Telegraph suggested she had ceased to claim parliamentary allowances on the property to reduce her tax liability.

The newspapers report makes allegations relating to the property in Wimbledon, south-west London, which was sold this year for more than £1m above its 1995 purchase cost.

Stuart Coleman, Manager of the Tax Department of ABDS comments:
“In 2009 Mrs Miller redesignated this property as her main residence and stopped claiming second-home allowances on it. This, the Telegraph says, was in an effort to avoid capital gains tax, which is payable at a rate of 28% on profits made from the sale of second homes.”

The row over the culture secretary's expenses dates back to December 2012, when the
Telegraph reported she had claimed £90,718 in expenses towards mortgage payments on the house in Wimbledon that the MP shared with her parents.

The parliamentary commissioner for standards, who conducted an investigation into the culture secretary's expenses, ruled she should repay £45,800 but the House of Commons Committee on Standards, which has the final say on issues on ethics and disciplinary matters, cut this to £5,800.

Labour MP John Mann has asked Commons Speaker John Bercow to grant an urgent question on reform of the committee.

Mr Mann said the committee's power to rule on MPs' expenses should be abolished, adding: "I hope that the Speaker will grant this request, as faith in politicians is at crisis point and urgent action is required."

If you need any help and advice on Inheritance tax or capital gains Tax, don’t hesitate, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar NOW to discuss how ABDS can help in all your financial planning.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Brilliant with numbers   
Great with people  
Clear and precise with advice
Timely and cost effective 
In touch with issues that face our clients
Mindful of our client’s long term strategic goals


Helping Your Business is Our Business

« Back to Tax Tips