How can an MP claim interest on a mortgage as an expense, surely you know already that you wil have to pay the interest, it's expected, everyone has to so how can they claim it back but we can't? 
Replies sorted oldest to newest
You don't need someone brainy to answer that, you need someone who's morally corrupt.
quote:Originally posted by Poolshark:
How can an MP claim interest on a mortgage as an expense, surely you know already that you wil have to pay the interest, it's expected, everyone has to so how can they claim it back but we can't?
as queenie said it's a scam...unless of course he tries the aul 'I work from home' excuse...but even at that it's a push...the mortgage is for a home presumably not for an office.
It's supposedly only the interest on the mortgage on a second home IF you require one for efficient and timely running of your parliamentaryand/or constituency duties. Not supposed to be just any old mortgage.quote:Originally posted by Poolshark:
How can an MP claim interest on a mortgage as an expense, surely you know already that you wil have to pay the interest, it's expected, everyone has to so how can they claim it back but we can't?
Dredge my moat, minions!!!!111
quote:Originally posted by Gabriel Pennywise:
Dredge my moat, minions!!!!111
Ok *snaps on gloves*
quote:Originally posted by Gabriel Pennywise:
Dredge my moat, minions!!!!111
sorry - cant hear u - maybe u should install a blar-di-blar grand home stereo system - so we can all hear u loud n clear whilst u gloat over urself on TV
How can they claim for tampax, toilet seats, moat cleaning and all the other stuff we all have to pay for ourselves...and thats just on ONE HOUSE!
quote:Originally posted by Extremely Fluffy Fluffy Thing:It's supposedly only the interest on the mortgage on a second home IF you require one for efficient and timely running of your parliamentaryand/or constituency duties. Not supposed to be just any old mortgage.quote:Originally posted by Poolshark:
How can an MP claim interest on a mortgage as an expense, surely you know already that you wil have to pay the interest, it's expected, everyone has to so how can they claim it back but we can't?
Well, quite. I think the system is flawed and lots of them have run away with it but many of these MPs have a legitimate requirement for a second home as part of their job. How that is provided is another matter but mortgage interest, not the capital or deposit, is an expense like rent.
Robert Peston on the BBC came up with another angle on this. These allowances are exempt from tax provided they are necessarily incurred as part of the job. That's really an Inland Revenue view of things like most people are judged by. The MPs may well have had an allowance and their claims may well have been accepted by the Fees Office under that scheme but the may be a tax implication on lots of them. In other words, mortgage interest may be fine but allowances for cleaning swimming pools may well come with a hefty back-tax bill if the Inland Revenue investigates.
dredge! dredge! dredge!!!
quote:Originally posted by Queen of the High Teas:
You don't need someone brainy to answer that, you need someone who's morally corrupt.
Spot on!