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Robinson bought 'key land' for £5 | Robinson bought 'key land' for £5 |
(40 minutes later) | |
Northern Ireland First Minister Peter Robinson, and his wife Iris, bought a valuable piece of land from a property developer for just £5. | Northern Ireland First Minister Peter Robinson, and his wife Iris, bought a valuable piece of land from a property developer for just £5. |
According to an investigation by the BBC's Newsline programme, the land deal enabled the Robinsons to sell part of their back garden for nearly £460,000. | According to an investigation by the BBC's Newsline programme, the land deal enabled the Robinsons to sell part of their back garden for nearly £460,000. |
They sold the land for £5 to a different developer, allowing the deal for their garden to go through. | They sold the land for £5 to a different developer, allowing the deal for their garden to go through. |
The DUP has accused the BBC of a smear campaign against Mr Robinson. | The DUP has accused the BBC of a smear campaign against Mr Robinson. |
The Robinsons acquired the strip of land 50 metres from the boundary of their back garden at Gransha Road in Belfast from a property developer friend, the late Fred Fraser. | The Robinsons acquired the strip of land 50 metres from the boundary of their back garden at Gransha Road in Belfast from a property developer friend, the late Fred Fraser. |
The land was the gateway to a proposed housing scheme, covering the Robinsons' garden and others. | The land was the gateway to a proposed housing scheme, covering the Robinsons' garden and others. |
Mr Robinson approached Mr Fraser at the request of another developer who would later purchase part of their back garden for £459,000. | Mr Robinson approached Mr Fraser at the request of another developer who would later purchase part of their back garden for £459,000. |
On the same day they sold the garden plot, Mr and Mrs Robinson sold that developer the access strip for the same £5 sum they had paid Mr Fraser 18 months earlier. | On the same day they sold the garden plot, Mr and Mrs Robinson sold that developer the access strip for the same £5 sum they had paid Mr Fraser 18 months earlier. |
Value | Value |
A professional valuation carried out for the BBC put the strip's value at upwards of £75,000 when the Robinsons obtained it, and at least £220,000 when they sold it. | A professional valuation carried out for the BBC put the strip's value at upwards of £75,000 when the Robinsons obtained it, and at least £220,000 when they sold it. |
Although they made no profit, tax experts say Customs and Revenue could use market values on the sale instead of the £5 they bought it and sold it for. | Although they made no profit, tax experts say Customs and Revenue could use market values on the sale instead of the £5 they bought it and sold it for. |
This potentially exposes the Robinsons to a tax bill of thousands of pounds. | This potentially exposes the Robinsons to a tax bill of thousands of pounds. |
The BBC twice asked Mr Robinson if they declared or paid any taxes, but he has not responded. | The BBC twice asked Mr Robinson if they declared or paid any taxes, but he has not responded. |
Mr Robinson should also have declared the land on his Commons register, but did not, and has not explained why. | Mr Robinson should also have declared the land on his Commons register, but did not, and has not explained why. |
He also has refused to say why he did not declare a potential conflict of interest when the planning application for the scheme went before Castlereagh Borough Council for consideration. | He also has refused to say why he did not declare a potential conflict of interest when the planning application for the scheme went before Castlereagh Borough Council for consideration. |
'Smear' | 'Smear' |
The DUP has described the BBC Newsline report as an example of the "ongoing BBC smear campaign" against its leader. | The DUP has described the BBC Newsline report as an example of the "ongoing BBC smear campaign" against its leader. |
In a statement on Tuesday, the party said Mr Robinson sold his land at the market-value and that there are no tax implications. | In a statement on Tuesday, the party said Mr Robinson sold his land at the market-value and that there are no tax implications. |
The DUP said the sliver of land was bought for £5 and sold for £5, a fact that has never been hidden and Mr Robinson derived no financial benefit whatsoever from the transaction. | The DUP said the sliver of land was bought for £5 and sold for £5, a fact that has never been hidden and Mr Robinson derived no financial benefit whatsoever from the transaction. |
The DUP statement said Mr Robinson has handed the issues over to his legal team to be dealt with. | The DUP statement said Mr Robinson has handed the issues over to his legal team to be dealt with. |