Homeward bound?
29 July 2009 / Samantha Morgan , Philip Munro
Issue: 7374 / Categories: Opinion , Tax

Samantha Morgan & Philip Munro lift the lid on MPs’ taxes & expenses

The spotlight of media scrutiny has been closely applied to MPs and their expenses claims during recent weeks, following the disclosure of parliamentary expenses records to the Daily Telegraph. The political fallout from the publication of these records has been significant, leading to the suspension of MPs by their parties, announcements that some MPs will stand down at the next general election and to some MPs repaying amounts claimed. One effect of this media reporting has been to bring the tax position of MPs into focus both in respect of the income tax treatment of their expenses and the capital gains tax (CGT) position of their homes.

Before considering the tax position of MPs, it is worth noting that the tax returns of MPs are dealt with by a special HM Revenue & Customs (HMRC) unit based in Cardiff known as “Public Departments 1”. MPs are considered by HMRC to be likely to have complicated tax affairs and the HMRC guidance issued to them indicates that they would all be exp

If you are not a subscriber, subscribe now to read this content
If you are already a subscriber sign in
MOVERS & SHAKERS
Firm hires structured finance expert
Firm strengthens its IP team
Firm adds new international counsel to tax group
NEWS
Domestic abuse victims are particularly vulnerable and will need more protection than ever during the COVID-19 lockdown, the Law Society has warned
Trainee barristers are in a ‘particularly vulnerable position’, the Bar Council Chair has warned, after a survey found nearly a third of chambers are changing their plans for pupillage
More than three-quarters of employers have furloughed some staff or plan to do so, according to benchmarking research by law firm Lewis Silkin into the impact of COVID-19
Employers face important health and safety questions during these uncertain times
David Lammy MP has been appointed Shadow Justice Secretary, in Labour Party Leader Keir Starmer’s reshuffle this week