How to Avoid Paying Stamp Duty (SDLT).

[Richlist]

Seems that the ' Pandora' papers have done us all a favour. They show that the Blair's avoided SDLT on their £6.45 million pound property purchase in quite an ingenious way.

The property was owned by an offshore company. They formed a uk company which bought the offshore company so the property came with it. Then they dissolved the offshore company.......result......no SDLT, which would have been way over £300K.

Now, where's my little book on offshore property deals.......

[kanrent]

The secret owners of more than 1,500 UK properties bought using offshore firms have been uncovered by a BBC investigation.

[Melboy]

7 hours ago, kanrent said:

The secret owners of more than 1,500 UK properties bought using offshore firms have been uncovered by a BBC investigation.

All the usual suspects I would imagine.   😀

Leona Helmsley will always be remembered for one of the most arrogant statements ever uttered: "We don't pay taxes. Only the little people pay taxes." 

That's you and me!

[Richlist]

Surely there is nothing to stop little old you or me from forming an offshore company which we can use to buy our next investment property.

Then, when we decide to sell, we can advertise it as free from SDLT.  This might result in the property commanding a small premium, which could be way more than the initial cost of setting up the offshore company ?

 

[Carryon Regardless]

Most little people would be scared of attempting to use these antics. Fear of the unknown and all that.

It (doesn't) amaze me how the socialists that would have pointed fingers accusing greed to those with money become those people when they find money.

I do wonder how Uni graduates become socialists, when their Uni education is all about money.

Then we see so many failed lawyers enter politics, not only as socialists granted. The very set up of of our legal systems is a massive disadvantage to the 'little' people'.  Legal Aid being the best answer still generates otherwise lost revenues for the advantaged at the tax payers expense.

You got me going, it's your fault I'm going to have a bad day now.

 

 

[Richlist]

This country's legal system is what half of the countries around the world base theirs on.......so it's something to look up to.

2 things

* You need to accept that nothing but nothing is ever perfect. Most things anywhere near it are continually evolving.

* Think yourself lucky that you are privileged to enjoy British justice and not that dished out in many other corners of the globe.

[Grampa]

I don't understand all the hooha about Tax avoidance, If the the rules allow it, its the government fault not the person whose been advised by their accountant to structure a financial product in a certain way. After all you pay an accountant to save to money and as long as its done legally how are you supposed to know otherwise. 

 

 

[Grampa]

1 hour ago, Richlist said:

 

* Think yourself lucky that you are privileged to enjoy British justice and not that dished out in many other corners of the globe.

Though I agree British Justice is likely favourable over most countries its still has many many failings starting with the police who in my view see a result the same as justice which it isnt.  

[Richlist]

I agree but if there is a serious problem anywhere in Government policy or responsibility, it invariably gets fixed (and when that's fixed another problem will likely appear). Fixing problems is generally a war of attrition with good outcomes for the majority. In my view it's not that there are problems that need fixing its that the fix often takes a long time.