Labour Councils Teach Us How To Invest In Commercial Property !

Labour Councils Teach Us How To Invest In Commercial Property !

11:05 AM, 8th November 2017, About 7 years ago 11

Text Size

Two Labour Councils made investment purchases of commercial property. (Strange when councils are meant to tax us for the provision of local essential services, not for running a property investment business!)

The councils have purchased these properties using offshore companies in Luxembourg and saved £12bn in SDLT. … And its all perfectly legal.

The councils are obviously tax resident in the UK, so how does buying these properties through a Luxembourg company help?

Can anyone shed any light on how this structure works?

Ranjan Bhattacharya
Baker Street Property Meet
Next Meet in Central London, Wed 29th Nov 2017. (200+ People attending)
More info at www.bakerstreetpropertymeet.com


Share This Article


Comments

Ian Narbeth

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

13:05 PM, 13th November 2017, About 7 years ago

Ian, you are getting things mixed up. The Council was criticised for buying the shares and thereby not paying 4% SDLT. The Seller, not the Council, might be liable for CGT if it made a capital gain. Whether CGT was avoided/reduced by the Seller I cannot say but we are going off-topic.

Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership

or

Don't have an account? Sign Up

Landlord Automated Assistant Read More