Wednesday, Feb 17, 2010
Rich hunt
Times: Entrepreneur faces £30m tax demand after residency ruling leaves thousands exposed
Thousands of entrepreneurs and celebrities face huge tax bills after a British businessman based in the Seychelles lost a long-running court battle over his residency yesterday.
The Court of Appeal ruled that Robert Gaines-Cooper was liable to pay UK tax despite spending less than 91 days a year in the country because England had remained “the centre of gravity of his life and interests”.
Posted by dill @ 12:08 PM (666 views) Add Comment
6 Comments
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1. Thecountofnowhere said...
Does this mean if I spend my life on the internet chatting to people abroad then England is not “the centre of gravity of his life and interests" so i can stop paying tax ?
2. mark wadsworth said...
Yet another job for land value tax man!
It wouldn't matter where the owner lives and whether he's resident or not, whether it's company, individual, family or pension fund - if you don't keep up with payments then your entry at land registry gets cancelled (obviously, you'd be refunded the selling price of your property minus arrears, just like when you default on a mortgage).
Simples.
3. Exiges said...
Seems a bit rough to me, he's in the UK for fewer than 91 days a year..
4. This comment has been removed as it was found to be in breach of our Blog Policies.
5. goweresque said...
Wave goodbye to a large of swathe of wealthy people who currently maintain property, and employ staff, in the UK. Talk about this tax grabbing govt cutting off its nose to spite its face. This ruling may please the class warriors, but we will all end up with less tax revenue as a result. Another winner from Gordo!
6. drewster said...
The government seems increasingly desperate for tax revenue. Who can blame them - if they can recover £30m from this one individual then it's a lot easier than chasing 3000 benefits fraudsters @ £10k a piece.