John Bercow, a former member of the shadow cabinet, claimed a total of £143,455 in second home allowances between 2001 and 2008Mr Bercow, 46, bought and sold properties in both his constituency and in London in 2003, but was unable to give a definitive answer yesterday as to whether he paid capital gains tax on any profit from the sale of either house.
He said that “so far as I can remember” his constituency home was his nominated second home at the time, and that his accountant had told him “there appeared to be no chargeable gain” on the profit from the sale.
By 2004-05, Mr Bercow’s nominated second home was his London address, where he has claimed the maximum permissible second home allowance for the past four years running.
Mr Bercow, a former member of the shadow cabinet, claimed a total of £143,455 in second home allowances between 2001 and 2008.
Land registry records show that in May 2003, six months after he got married, Mr Bercow sold his constituency home in Adstock, Bucks, for £162,000 and bought a detached house in Buckingham for £145,950. The records do not show how much Mr Bercow paid for the Adstock house, or how much profit he made when he sold it.
In September 2003, Mr Bercow sold a flat in Victoria, London for £335,000, which he had bought in 1998 for an undisclosed sum. He and his wife, Sally, then bought a flat in a Georgian block nearby for £540,000. Homeowners are required to pay capital gains tax on the profit on the sale of any property which is not their main residence.
Asked if he had paid capital gains on either of the properties, Mr Bercow said: “As I can remember, without access to the records, the Adstock property was my designated second home and, when it was sold, the profit on the sale was not very high. I have spoken to my accountant who has confirmed that he corresponded with me at that time and informed me there appeared to be no chargeable gain.”
He added later: “I am happy to seek written confirmation of this point tomorrow. If there was a mistake, either by my accountant or by me, and any liability is due, I shall pay it with interest and without delay as I have always paid my taxes in full like everybody else.”
Mr Bercow said he had switched his second home to London because he and his wife “chose to base ourselves in Buckinghamshire” but earlier this year he had changed his second home back to Buckingham because his son started full-time school in London.
This week, Mr Bercow said he would put his name forward for Speaker, telling MPs: “I am asking people to vote ... for a Speaker who has what it takes to restore trust in Parliament and politicians.”
The MP for Buckingham, a former merchant banker, has made no secret of his ambition to become Speaker. In 2000, when the position last was vacant, a website called Bercow for Speaker was set up anonymously and has been regularly updated.
In addition to his parliamentary salary of £64,766, Mr Bercow is paid between £35,000 and £40,000 as an adviser to a private health care company registered in the Cayman Islands.
John Bercow
Job: backbench Conservative MP
Salary: £64,766
Total second home claims
2004-05: £20,902
2005-06: £21,634
2006-07: £22,110
2007-08: £23,083
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