Lorianne_W
Joined: 24 Mar 2006
Posts: 2727
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 Posted: Sun Dec 13, 2009 6:47 am Post subject: Ttoll bridge over the Thames sells for £1m at auction |
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Tax-free toll bridge over the Thames sells for £1m at auction
http://www.dailymail.co.uk/news/article-1232976/Tax-free-toll-bridge-Thames-sells-1million-auction.html
| Quote: | A toll bridge over the River Thames was sold for £1,080,000 at auction today.
Swinford Toll Bridge, near Eynsham, Oxfordshire, is governed by its own Act of Parliament which makes it a tax haven.
The bridge is one of the last toll bridges in Britain still in private hands.
Its buyer is exempt from paying income tax, capital gains tax, inheritance tax or VAT on the bridge because of the act passed in 1767 by George III granting private ownership to the Earl of Abingdon.
Motorists pay 5p per car, and up to 50p per lorry, to cross the bridge, a Grade II -listed structure.
Just under four million vehicles use the bridge to get in and out of Oxford city centre, which is six miles away, every year and it is especially busy during rush hour. It has a gross annual income of around £190,000.
Tolls are collected manually from a toll booth at the northern end of the bridge.
The new owner may have the chance to install an automatic barrier and pay machine, which could bring in an extra £25,000 a year. They will be responsible for upkeep of the bridge. |
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