Hunt saved £100,000 by buying seven flats in one go
The Daily Telegraph reports that Jeremy Hunt's company, Mare Pond Properties, bought seven flats in the Ocean Village development in Southampton in a single transaction. Because the purchase covered six or more dwellings at once, it was treated as a non-residential transaction and so fell outside the 3% stamp-duty surcharge on additional homes, which the paper estimates saved around £100,000. The article also notes Hunt initially failed to declare his interest in the flats to Parliament and Companies House, which he attributed to an honest accounting error that had since been corrected.
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