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What Effects Are The Sdlt Changes Having On The Higher End Of The Market?

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All those rich foreign investors must be thinking pretty hard about buying London property these days.

A £5 million pound house now costs over half a million in stamp duty (if bought by a person) and over £750k if bought through a company. Presumably they are expecting their purchase to go up in value by those amounts over the next few years, however, taking into account all the new taxes relating to high value property bought by foreign owners (ATED, CGT, ATED related CGT, SDLT etc), London property must be looking decidedly less attractive and riskier even for the richest. Add on a possible Mansion Tax and London property will no longer look like the mecca of money laundering anymore. What do you guys think?

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We've got some way to go though



As often in the offshore universe, one of the fruits of these manoeuvres turns out to be a classically English country estate, Spye Park in Wiltshire. The estate, which goes back to the 16th century, is occupied by Gigs and Robby Enthoven. Robby, who is Dick Enthoven's son, developed the UK end of the restaurant chain.

But the registered owner of Spye Park is actually an anonymous British Virgin Islands offshore entity.

Such arrangements can legally avoid capital gains tax, inheritance tax and potential future stamp duty for those like the Enthovens, whose South African heredity makes them "non-doms".

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