Stamp Duty Schemes

The Times investigates the loophole which has allowed offshore companies to buy some of Britain’s most expensive homes.

It reports that ploys aimed at dodging stamp duty land tax have doubled since the Budget while houses in some of London’s priciest streets remain sheltered in offshore companies.

An estimate by Savills suggests that the offshore vehicles involved in Westminster and Kensington & Chelsea could hold as much as £17.3bn of property. If all were sold and the required 15% stamp duty was avoided, the Exchequer would miss out on £2.6bn.

Source: The Times

We say: This fox has already been shot, with some changes already in force and others coming in next year. Unscrambling existing arrangements will be the next challenge.

NICOLA HALL

BILSHAN MENSAH

Sam Inkersole

In 2022, Sam won the Taxation’s Rising Star award at the Taxation Awards in and was named in the Accountancy Age 35 Under 35.

Jon Wedge

While Jon’s client work focuses on the financial services sector, he also oversees the firm’s assurance service, as well as supporting the trainees following in his footsteps.

ELANA DIMMER

Elana joined us in 2017 as an ACA trainee, after graduating from Durham University where she had studied languages. She is now a manager in our assurance team.

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