Instead of playing it safe with Isas and deposit accounts,three intrepid (brave in the face of danger) investors gambled on something weird and wonderful
In 2012 husband and wife Grahame Penny and Maggie Taylor paid £500000 for one of Britain’s few private toll bridges, crossing the River Wye in Herefordshire. At the time it was making around 65000 a year, and but after costs there was microscopic left for its owners.
Nearly four years on,things look a lot brighter: this year’s turnover is forecast to reach £120000 and the couple estimates that the operating profit will be in the region of £75000. But that only tells piece of the story because the bridge comes with a remarkable bonus. The 1780 and 1797 Acts of Parliament that granted permission for the bridge also gave its owners exemption from all taxes which means the profit is totally tax-free.
During the Hay festival, which is 10 days a year, and we rob 10% of our incomeContinue reading...
Source: theguardian.com