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Number of MPs claiming for properties they own and the value of each property (according to 2012 valuations)
F1415-073
Disclosure Date:20 Nov 2014
Categories: MPs' ACCOMMODATION MORTGAGE INTEREST
Exemptions Applied: None
Request

How many MPs continue to claim expenses in relation to accommodation that they own.

Of these, what is the value of each home according to the valuation carried out in 2012.

If is not possible to list each one, please confirm how many, if any, were:

  1. Above £2 million
  2. Above £3 million
Response

I will take your requests for information in turn.

  • How many MPs continue to claim expenses in relation to accommodation that they own.

Under the MPs’ Scheme of Business Costs and Expenses (‘the Scheme’), MPs who own their own property can claim for associated expenditure (defined under paragraph 4.10 of the Scheme). MPs who wish to make such claims can register with us for ‘associated expenditure’ only.

In locating the information, we have searched our systems for these MPs and who have made such a claim in the last 12 months. According to our records, there are 64 individuals who meet this criterion.

  • Of these, what is the value of each home according to the valuation carried out in 2012. If is not possible to list each one, please confirm how many, if any, were:
    • Above £2 million
    • Above £3 million

In 2010, IPSA abolished the mortgage interest subsidy as part of the Scheme in 2010. As part of this decision, IPSA put in place transitional measures for 71 MPs to move from the old arrangements to the new scheme. These measures included a provision that capital gains supported by public funds would be returned to the public purse.

Any capital gain was calculated through valuations carried out in 2010, and again in 2012.

These valuations were only carried out for MPs who took part in the transitional measures relating to claims for mortgage interest, not for all MPs who claim associated expenditure for properties they own.

Further information on the 71 MPs who took part in the transitional measures, and of any capital gain incurred and due for repayment, can be found on our website, via the following link: http://www.parliamentary-standards.org.uk/files/Mortgage%20interest%20sheet%20from%20September%202013.xlsx

Of the valuations carried out for this purpose, 1 property was valued higher than £3 million. No properties were worth between £2m and £3m. Again, the fact that a valuation took place for the purpose of the transitional mortgage interest scheme does not necessarily mean that associated expenditure is claimed for that property.