Tax relief on peerages.

  • Thread starter Emperor's New Widescreen
  • Start date

E

Emperor's New Widescreen

If I buy a peerage is it tax deductable?
(Not that I actually pay tax anyway).
 
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A

Alan Frame

Emperor's New Widescreen said:
If I buy a peerage is it tax deductable?
(Not that I actually pay tax anyway).
Depends.

Was it aquired 'wholly, exclusively and necessarily' for the purposes of
your trade?

Maybe it's tax deducatable as 'subscription to memebrship of a
professional body' in some quarters.... :->

rgds, Alan
 
V

Virgil's Ghost

Alan Frame said:
Depends.

Was it aquired 'wholly, exclusively and necessarily' for the purposes of
your trade?

Maybe it's tax deducatable as 'subscription to memebrship of a
professional body' in some quarters.... :->
Hrm, what about Gift Aid?
 
P

Peter Saxton

If I buy a peerage is it tax deductable?
(Not that I actually pay tax anyway).
No. It's a criminal offence.

But it will be one of those crimes that the Police will not bother to
prosecute because they're too busy sat around doing nothing.

You may hear rumours of an investigation but I doubt that Tony Blair
will end up in jail no matter how clear cut the evidence.
 
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D

DaveJ

Virgil's Ghost said:
Hrm, what about Gift Aid?
No - if you make it a loan you can offset interest charges against necessary
purchase of wigs and gowns etc.
 

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