There is only one rule for them! Tony Blair saves £312,000 in stamp duty, which enrages Britons.

0

There is only one rule for them! Tony Blair saves £312,000 in stamp duty, which enrages Britons.

The discovery that Tony and Cherie Blair saved thousands of pounds in property tax has enraged Britons.

According to the Pandora Papers leak, the Blairs saved £312,000 by not paying stamp duty on a London home after forming a business in the British Virgin Islands. Following the announcement, political commentator and Brexit supporter Darren Grimes slammed the Blairs. “Rules for thee, but not for me,” he wrote on Twitter. His post was accompanied by a photo of Tony Blair, who said that Britons would have to pay more tax to repay the money borrowed to cushion the impact of the pandemic.

Some people turned to Twitter to criticize the former Prime Minister after his remark.

According to Stephen Baseby, “As it has always been for Blair/Brown.

“Best comedy act since Morecambe and Wise, yet for years the quips passed over our heads.”

Steve P said, ” “Another example of Blair’s socialism, in which principles were surrendered for personal gain, both in terms of power and, it appears, wealth. [sic]” “Like every politician before him, Tony Blair is on the lookout for Tony Blair,” Ken Roberts stated. According to the papers, the former Prime Minister and his wife purchased a £6.5 million office property through a British Virgin Islands (BVI) firm, according to The Guardian.

The corporation was owned by the family of Bahrain’s Minister of Industry, Commerce, and Tourism, HE Zayed bin Rashid Alzayani.

Mr Alzayani was a shareholder in another offshore company that has invested more than £60 million in UK commercial property over the last nine years, including the Marylebone address sold to the Blairs.

The tax was avoided because the Blairs bought the property’s holding company rather than the building itself, so they didn’t have to pay stamp duty.

Although the transaction was not unlawful, and there is no proof the Blairs tried to avoid paying stamp duty, it does illustrate a loophole that allows property owners to avoid paying tax on purchases.

While others on social media chastised the pair, Ms Blair insisted that what they did was nothing out of the ordinary.

She also stated that all taxes had been paid in a legal manner.

“I didn’t want to be the owner of a BVI business,” she explained, “so I directed my accountants, BDO, and solicitors, Blake.” “..

Share.

Comments are closed.