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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.
ValueValue
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.
BBC Newsline, 1830 BST, BBC1 Northern Ireland.