Torygraph - Now this I would love to see!
John Prescott should be paying as much as £366,000 a year in tax on his grace-and-favour properties now that he has been stripped of his responsibilities, a leading tax accountant has claimed.
Mike Warburton, senior tax partner at accountants Grant Thornton, said: "I have cases where the Revenue has pushed very hard to take tax from my clients with circumstances very similar to this.
"It is difficult to see how Mr Prescott's arrangements would fall within the specific exemptions laid down in the regulations."
Mr Warburton had already expressed reservations about the tax position of Mr Prescott's grace-and-favour properties but after last week's reshuffle his position has become even less tenable.
Mike Warburton, senior tax partner at accountants Grant Thornton, said: "I have cases where the Revenue has pushed very hard to take tax from my clients with circumstances very similar to this.
"It is difficult to see how Mr Prescott's arrangements would fall within the specific exemptions laid down in the regulations."
Mr Warburton had already expressed reservations about the tax position of Mr Prescott's grace-and-favour properties but after last week's reshuffle his position has become even less tenable.
Comment