Wealthy People Move Property Offshore To Dodge Tax
While HMRC claim to be cracking down on tax evaders and closing loopholes there seems to be a huge area where tax is being avoided – and it’s by some of the most wealthy people in the country according to a special report published by Private Eye.
The report says, “For oligarchs, arms dealers, money launderers, kleptocrats and run-of-the mill tax dodgers, British property is the investment of choice.”
They have made a map that shows, “the extent of the British property interests of companies based in tax havens from Panama to Luxembourg, and from Liechtenstein to the South Pacific island of Niue. Most are held in this way for tax avoidance and often to conceal dubious wealth.”