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British earl selling mountain in bid to pay hefty tax bill

Published on May 7, 2014 1:20 AM
 

LONDON (AFP) - A British lord is putting a mountain up for sale in a bid to pay off part of his hefty inheritance tax bill.

Hugh Lowther, the Earl of Lonsdale, has put Blencathra, a 868-metre high peak in the picturesque Lake District in northwest England, on the market for £1.75 million (S$3.7 million).

Lowther felt forced to sell the the 2,676-acre mountain, known as Saddleback due to its shape, to help pay off the reported £9 million he owes the Treasury from his father's inheritance.

Inheritance tax, set at 40 per cent, is payable on the amount of an estate above a £325,000 threshold.

 
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