Article: How the Labour billionaire can save [pounds sterling]2.5m stamp duty.

Article from:
Daily Mail (London)
Article date:
March 20, 2007
Copyright

Byline: JANE MERRICK

ONE of Labour's biggest donors was accused last night of using a tax loophole which will cost the Treasury more than [pounds sterling]2million.

Billionaire steel tycoon Lakshmi Mittal, Britain's richest man, has registered his [pounds sterling] 70million West London mansion as a company asset to avoid a high rate of stamp duty.

As a result, a potential tax bill of [pounds sterling]2.8million would be slashed to just [pounds sterling]350,000 if it was sold.

Earlier this year Mr Mittal gave Labour [pounds sterling]2million, taking his total donations to the party to [pounds sterling]4.125million.

The tax ...

Read all of this article with a FREE trial

Related newspaper, magazine, and journal articles:

Article: We'll axe stamp duty up to [pounds ...
The Daily Mail (London, England);  April 22, 2005 ;     700+ words ... ... point for paying stamp duty would rise from [pounds sterling]120,000 to ... campaign. His move on stamp duty capped a [pounds sterling]4billion package ... ago you paid [pounds sterling]900 (stamp duty) on the average ...

Article: Chancellor's [pounds sterling]1bn-a-month bonanza ...
The Daily Mail (London, England);  May 23, 2006 ;     700+ words ... ... is raking in [pounds sterling]1billion a month in stamp duty, according to ... handed over in stamp duty and [pounds sterling]1billion in inheritance ... they die. The [pounds sterling]4billion stamp duty is not just money ...

Article: [pounds sterling]600m stamp duty ...
The Daily Mail (London, England);  March 10, 2009 ;     700+ words ... ... taxpayer is likely to be [pounds sterling]148million. Stamp duty rakes in [pounds sterling]6.5billion a year for the ... 250,000 pay 1 per cent in stamp duty. For homes more than [pounds sterling]250,000, it leaps to 3 ...

Article: Labour rakes in [pounds sterling]31billion in ...
The Daily Mail (London, England);  February 21, 2008 ;     700+ words ... ... forked out [pounds sterling]31.5billion in stamp duty over the past ... 1998, just [pounds sterling]830million in stamp duty was paid. Increases ... forless than [pounds sterling]250,000. If the stamp duty threshold had ...

Article: TORIES TO AXE STAMP DUTY FOR MILLIONSHoward's boost ...
The Evening Standard (London, England);  April 21, 2005 ;     700+ words ... ... but the stamp duty threshold ... raised from [pounds sterling]60,000 ... more than [pounds sterling]250,000 ... be charged stamp duty at the same ... THE FACTS STAMP duty is charged ... more than [pounds sterling]120,000 ...

Article: Homebuyers wince as stamp duty hits a record ...
The Daily Mail (London, England);  September 7, 2006 ;     700+ words ... ... a record [pounds sterling]1billion in stamp duty between April ... for paying stamp duty was raised ... price of [pounds sterling]60,000 ... increase the stamp duty threshold to [pounds sterling]125,000 ...

Article: [pounds sterling]7,000 extra on home stamp ...
The Star (Sheffield) (Sheffield, England);  July 2, 2008 ;     609 words ... ... out almost [pounds sterling]7,000 more in stamp duty than a decade ... have paid just [pounds sterling]998 in stamp duty in 1997, according ... a jump of [pounds sterling]1,314. In Barnsley, stamp duty on family homes ...

Article: Londoners pay [pounds sterling]1 billion ...
The Evening Standard (London, England);  March 8, 2005 ;     700+ words ... ... earning more than [pounds sterling]1 billion a year in stamp duty from the London ... in 1997, when stamp duty raised just [pounds sterling]165 million ... four per cent stamp duty on properties over [pounds sterling]500,000 in ...

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!

Find articles, research, and archives