Tax advice of the week: follow Blears and avoid CGT

Hazel Blears, the secretary of state for communities, hit the headlines for dodging capital gains tax on the sale of her second home. You can do the same.

Hazel Blears, the secretary of state for communities, hit the headlines this week. According to The Independent she sold her second home, a flat in Kennington, for £200,000, making a profit of £45,000.

Nothing wrong with that, but some commentators are unhappy that she paid no capital-gains tax (CGT) on the sale. Yet what she did is legal and you don't need to be an MP to benefit.

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