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Toll bridge bought for over £1m | |
(about 12 hours later) | |
A toll bridge in Oxfordshire used by nearly four million vehicles a year, has fetched £1.08m at auction. | |
The Swinford toll bridge was built across the River Thames at Eynsham in 1767 and is governed by its own Act of Parliament. | The Swinford toll bridge was built across the River Thames at Eynsham in 1767 and is governed by its own Act of Parliament. |
The buyer also gets a stone cottage. Car drivers using the bridge to get to Oxford pay 5p and lorry drivers 50p. | |
But some people living in the area want the charge scrapped saying it adds to rush hour delays and congestion. | |
The bridge, in David Cameron's constituency, enjoys tax-free status following an 1767 Act of Parliament. | |
This granted private ownership of the bridge and its tolls to the Earl of Abingdon and "to his heirs and assignees for ever". | This granted private ownership of the bridge and its tolls to the Earl of Abingdon and "to his heirs and assignees for ever". |
The buyer will be exempt from paying income tax, capital gains tax, inheritance tax or VAT on the bridge because of the Act. | The buyer will be exempt from paying income tax, capital gains tax, inheritance tax or VAT on the bridge because of the Act. |
The estimated gross annual income for the new owner is about £195,000. | |
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Toll bridge bought for over £1m |
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