> It'll be owned by a shell company in the Vigin Islands or some other tax haven & only the ownership of the company will ever change hands so no stamp duty will be due in the UK.
I believe this isn't true any more. Legally, stamp duty will be due at 15% in this case.
Of course, whether this is enforceable, whether the authorities make any effort to enforce this (as opposed to it being a nice sounding law to appease the public), and whether the people involved actually report these transactions are entirely different matters, and I wouldn't be optimistic.
I believe this isn't true any more. Legally, stamp duty will be due at 15% in this case.
Only for newly built properties - the transfer into corporate ownership attracts 15% duty. However, properties that are already owned by offshore companies care unaffected.
I agree that there are probably ways round the new rules too: The tax laws in this country are so complex that those who can employ the best accountants and lawyers can often simply out argue the Inland Revenue.
I believe this isn't true any more. Legally, stamp duty will be due at 15% in this case.
Of course, whether this is enforceable, whether the authorities make any effort to enforce this (as opposed to it being a nice sounding law to appease the public), and whether the people involved actually report these transactions are entirely different matters, and I wouldn't be optimistic.