Britain Releases Censored List of Expenses
source: http://wo-ne.blogspot.com/2009/06/britain-releases-censored-list-of.html
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After weeks of newspaper disclosures and political turmoil swirling around the expense accounts of legislators, the British authorities finally published their own version of the accounts on Thursday, but with crucial data blacked outUnder British government rules, legislators may claim up to $38,000 a year to defray the costs of a second home, either in their electoral district or near Parliament in London. While primary residences do not incur capital gains taxes when they are sold, profit on second homes is taxable. The Daily Telegraph said Ms. Ussher had redesignated a second home as a primary residence shortly before selling it. The financial maneuver has become known as “flipping” and several other politicians have been accused of profiting from it.
