Article in Yahoo..on sale of a mountain....
When most of us are short of cash, we might put a few things on ebay or sell some junk at a car-boot sale.
But the Earl of Lonsdale, Hugh Lowther, is selling an entire mountain, along with the opportunity to become a Lord, to raise money for his tax bill.
Blencathra in the Lake District is on the market with a guide price of £1.75million and the buyer will pick up the title Lord of the Manor of Threlkeld and can apply to the College of Arms for an individual Coat of Arms.
Following the death of his father in 2006 the Lord Lowther needs to pay a large sum of Inheritance Tax. And it was either sell the mountain, known as ‘Saddleback’ because of its distinctive shape, or another part of the estate.
The Earl of Lonsdale needs the cash to pay tax
“My family have owned Blencathra and its Manor for over 400 years, so the sale of this iconic property will be a great loss,” he commented.
le of a mountain...
We adopt the British system as we were once a British colonial state..
However, we cleverly remove the Inheritance Tax so that our Gini-coefficient can remain one of the highest and the disparity between the rich and poor can be more obvious. To boost it more, we try importing more billionaires.
So, can we sum up that the laws here are to protect the rich and powerful.?
Do you agree...????
When most of us are short of cash, we might put a few things on ebay or sell some junk at a car-boot sale.
But the Earl of Lonsdale, Hugh Lowther, is selling an entire mountain, along with the opportunity to become a Lord, to raise money for his tax bill.
Blencathra in the Lake District is on the market with a guide price of £1.75million and the buyer will pick up the title Lord of the Manor of Threlkeld and can apply to the College of Arms for an individual Coat of Arms.
Following the death of his father in 2006 the Lord Lowther needs to pay a large sum of Inheritance Tax. And it was either sell the mountain, known as ‘Saddleback’ because of its distinctive shape, or another part of the estate.
The Earl of Lonsdale needs the cash to pay tax
“My family have owned Blencathra and its Manor for over 400 years, so the sale of this iconic property will be a great loss,” he commented.
le of a mountain...
We adopt the British system as we were once a British colonial state..
However, we cleverly remove the Inheritance Tax so that our Gini-coefficient can remain one of the highest and the disparity between the rich and poor can be more obvious. To boost it more, we try importing more billionaires.
So, can we sum up that the laws here are to protect the rich and powerful.?
Do you agree...????
