{"id":5375,"date":"2009-11-18T11:55:09","date_gmt":"2009-11-18T09:55:09","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=5375"},"modified":"2009-11-18T11:55:09","modified_gmt":"2009-11-18T09:55:09","slug":"tax-haven-in-oxfordshire","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2009\/11\/18\/tax-haven-in-oxfordshire\/","title":{"rendered":"Tax haven in Oxfordshire"},"content":{"rendered":"

Swinford Toll Bridge Up For Sale In Oxfordshire: Buyer Gets Tax-Free Income Due To Traffic Tolls | Business | Sky News<\/a>.<\/p>\n

A picturesque bridge over the River Thames that has the added perk of being a tax haven has gone on public viewing ahead of going up for auction.<\/p>\n

The Swinford Toll bridge in Oxfordshire was built 240 years ago and an old Act of Parliament rules that its owner can collect a toll from those crossing the river - without being subject to tax.<\/p>\n

What's more, the bridge owner enjoys something of a monopoly as the Act also states that no other river crossing can be constructed for three miles in either direction.<\/p>\n

Currently around 10,000 vehicles use the crossing every day, with cars paying 5p to cross and double-decker buses 20p.<\/p>\n

Despite appearing small, the tolls give a relatively healthy return to the owner, generating a gross profit of \u00a3200,000 a year.<\/p><\/blockquote>\n

\n

But as ever, there is a real cost of this tax abuse on local people:<\/span><\/h3>\n<\/div>\n

[A]ny potential buyer will have to cope with disgruntled local residents who want the toll to be scrapped.<\/p>\n

They argue that it slows down traffic dramatically on an already-congested route, causing fumes to be pumped into the air, and describe the enforced payment as \"highway robbery\".<\/p>\n

More than 750 people have already signed a petition asking their local MP - who happens to be one David Cameron - to have the local council compulsorily purchase the bridge and scrap the tolls.<\/p><\/blockquote>\n

Such anomalies - like the status of many of secrecy jurisdictions - which makes them rent seeking legislatures for hire - need to be abolished.<\/p>\n","protected":false},"excerpt":{"rendered":"

Swinford Toll Bridge Up For Sale In Oxfordshire: Buyer Gets Tax-Free Income Due To Traffic Tolls | Business | Sky News. A picturesque bridge over
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