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MP defends sale of flat in London MP defends sale of flat in London
(about 1 hour later)
A Norwich MP has defended selling his London flat which he claimed allowances for at below market value to his daughter and her partner. A Norwich MP has defended selling his London flat at below market value to his daughter and her partner after claiming second-home allowances on it.
Norwich North MP Dr Ian Gibson spoke to BBC Look East after being told the allegation about his expenses would be made in the Daily Telegraph on Friday. Norwich North MP Dr Ian Gibson spoke to BBC Look East after being told allegations about his expenses would be made in the Daily Telegraph on Friday.
The newspaper will say Dr Gibson shared the flat with his daughter for a time, claiming mortgage payments on expenses. Dr Gibson told the BBC he shared the flat with his daughter for a time, claiming mortgage payments on expenses.
Dr Gibson said he had not benefitted at all from the expense claims. The MP said he had not benefitted at all from the expenses claims.
While he was claiming an allowance for the property, which he bought in 1999, his daughter and her partner lived there full-time rent-free. The Telegraph is expected to say that while the MP was claiming an allowance for the property, which he bought in 1999, his daughter and her partner lived there full-time without paying rent.
In April last year he sold it to them for £162,000. He had bought it for £195,000.
'Home for years''Home for years'
In April last year he sold it to them for £162,000 when he bought it for £195,000. Dr Gibson said that he had the flat valued at the time of the sale for between £250,000 and £300,000.
"I cannot wait to put in my tax return to see how they assess it," he said.
"I may make a loss and may have to sell my main home."
Dr Gibson told the BBC that the flat "was my home for many years".Dr Gibson told the BBC that the flat "was my home for many years".
"The mortgage was coming to an end. I would have had to sell it anyway ... and I will pay the capital gains tax." "The mortgage was coming to an end. I would have had to sell it anyway... and I will pay the capital gains tax."
He said that when he sold the flat, because he wanted to move to a rented flat nearer Westminster, "prices were coming down".He said that when he sold the flat, because he wanted to move to a rented flat nearer Westminster, "prices were coming down".
Dr Gibson said he would listen to the opinion of constituents and if they wanted wanted him to resign, he would do so. Dr Gibson said he would listen to the opinions of constituents and if they wanted wanted him to resign, he would do so.
He said if his constituents wanted him to step down "then fine, so be it".
"I don't mind getting beaten in an election, but I am quite happy to step down too... and admit that the constituents thought it was one step too far," he said.