Tycoons who bankrolled Brexit have accused the taxman of using obscure inheritance laws to demand bills of up to £2million. …
Usually, donations made to charities and political parties are exempt but now the taxman has said payments from individuals to referendum campaigns are taxable, reports the Daily Telegraph.
The banks which funded the Remain campaign, including Goldman Sachs and JP Morgan, will likely escape any action because they cannot be made liable for inheritance tax, though at least one Remain donor has also been slapped with a tax demand.
It is said the taxman’s demands will hit Leave donors harder than Remain because the campaign to exit the European Union was mainly funded by individuals rather than the publicly listed companies who mostly backed Remain.
Fury as Brexiteers hit with HUGE bills for supporting Leave. By Vincent Wood.
A source close to Boris Johnson said: “This decision by HMRC will not only hit the plucky individuals who backed the Vote Leave campaign, but it will also make it more difficult for grassroots campaigns to be successful in the future. …
One senior Tory leaver went further – decrying the HMRC bill as “scandalous”. He said: “This is the Treasury’s revenge for the referendum. Donors aren’t usually charged tax like this and it looks like a deliberate move by Whitehall to target people who supported Leave.”
The Telegraph’s recent exposure of the Establishment targeting Leave campaign donors by hitting them with a 20 per cent inheritance tax bill on their gift raises fundamental questions about the functioning of our democracy. …
This disgraceful stitch-up calls to mind another story about which I have so far kept quiet but which presents an even greater danger to our democracy. For more than a decade there has been a concerted attempt by the Establishment to put UKIP out of business.
Selective enforcement using obscure regulations — good one lefty bureaucrats!
hat-tip Stephen Neil