Snugglybear Posted September 2, 2015 Share Posted September 2, 2015 http://www.private-eye.co.uk/registry "OVER the last year Private Eye has revealed the extent of ownership of British land by offshore companies, generally for tax avoidance and often to conceal dubious wealth. Now the Eye has created an easily searchable online map of these properties, revealing for the first time the British property interests of companies based in tax havens. Using Land Registry data released under Freedom of Information laws, and then linking more than 100,000 land title register entries to specific addresses, the Eye has tracked all leasehold and freehold interests acquired by offshore companies between 2005 and 2014." Quote Link to comment Share on other sites More sharing options...
pipllman Posted September 2, 2015 Share Posted September 2, 2015 good piece of work, hat tipped Quote Link to comment Share on other sites More sharing options...
billybong Posted September 2, 2015 Share Posted September 2, 2015 Amazing work. There was a journalist recently saying that London flats bought by overseas should be considered to be exports. If they want to account for them that way fair enough although it would be misleading and the problem is that they still set the price locally as they're not exports. Quote Link to comment Share on other sites More sharing options...
Fed_Up Posted September 2, 2015 Share Posted September 2, 2015 (edited) Edited September 2, 2015 by Fed_Up Quote Link to comment Share on other sites More sharing options...
South Lorne Posted September 2, 2015 Share Posted September 2, 2015 ...now let's see if Osborne is up to the mark of his mouth....will he now have these companies investigated for money laundering unless they come on-shore with full tranparency....?......if he doesn't ..he is part of the problem along with the rest of the Government ..... Quote Link to comment Share on other sites More sharing options...
mattyboy1973 Posted September 2, 2015 Share Posted September 2, 2015 Every single country that comes up is a tax haven; Cayman islands, Isle of Man, Channel Islands, Turks and Caicos, Luxembourg... It's systemic tax evasion avoidance on a massive scale. Chances of it ever changing? Quote Link to comment Share on other sites More sharing options...
keef Posted September 2, 2015 Share Posted September 2, 2015 Wow, that's a great resource they've created, thanks for posting (although this might eat up my evening tonight). Quote Link to comment Share on other sites More sharing options...
eztiger Posted September 2, 2015 Share Posted September 2, 2015 (edited) Wow I knew alot of the land around here in Marlborough was owned by the wealthy but after looking at that map im shocked to see that approx 70% of the land in this area is owned by offshores registered in the cayman isles, panama, jersey and luxumbourg. The Rothchild family having a significant presence here might have something to do with it maybe? It also appears to be the largest blob of tax evasion in the entire UK for freehold according to the map. Proper rotten borough. Edited September 2, 2015 by eztiger Quote Link to comment Share on other sites More sharing options...
pipllman Posted September 2, 2015 Share Posted September 2, 2015 It is worth making the point that not all offshore companies that own land / buildings in the UK are set up to avoid tax. Nor is offshore company ownership always used to hide the beneficial ownership of the land. Quote Link to comment Share on other sites More sharing options...
Frick Posted September 2, 2015 Share Posted September 2, 2015 I live right opposite one of the properties listed. It's been empty ever since it's been built. Mail in the door seems to disappear every 2 weeks or so. Never seen a living soul or a light there. Quote Link to comment Share on other sites More sharing options...
mattyboy1973 Posted September 2, 2015 Share Posted September 2, 2015 It is worth making the point that not all offshore companies that own land / buildings in the UK are set up to avoid tax. Nor is offshore company ownership always used to hide the beneficial ownership of the land. Although I'm sure that's true (as in, not all), it is remarkable how many of the countries that are shown are also rather well known for their attractive tax regimes. Quote Link to comment Share on other sites More sharing options...
longtomsilver Posted September 2, 2015 Share Posted September 2, 2015 This thread deserves a sticky. It's a brilliant referencing source. One of the biggest farmers in my area has land registered to a Guernsey holding company. Flash git. I might register my own property in a tax haven knowing others might see I have done so and assume I'm monied; that'll get the neighbours talking. Quote Link to comment Share on other sites More sharing options...
pipllman Posted September 2, 2015 Share Posted September 2, 2015 It is also worth noting that the data set is incomplete For example, land purchased before 2005 isn't included For example, land owned by a UK company that is, in turn, wholly owned by an offshore company, isn't included Quote Link to comment Share on other sites More sharing options...
durhamborn Posted September 2, 2015 Share Posted September 2, 2015 There is a one called "Skylight Property" who seems to of bought up a lot of terraces in my area (in terrible spots) in 2007.Some of the prices they paid were £70k for houses that went for £8k five years before that. Rough figures they spent £750k on houses that are now worth £300k at best. They neednt of bothered trying to avoid tax.They will never be above water on the rubbish they bought. Quote Link to comment Share on other sites More sharing options...
Fed_Up Posted September 2, 2015 Share Posted September 2, 2015 There is a one called "Skylight Property" who seems to of bought up a lot of terraces in my area (in terrible spots) in 2007.Some of the prices they paid were £70k for houses that went for £8k five years before that. Rough figures they spent £750k on houses that are now worth £300k at best. They neednt of bothered trying to avoid tax.They will never be above water on the rubbish they bought. Capital losses which can be used to reduce tax liabilities elsewhere... Quote Link to comment Share on other sites More sharing options...
pipllman Posted September 2, 2015 Share Posted September 2, 2015 Capital losses which can be used to reduce tax liabilities elsewhere... could be acquiring a block of land that has the potential for redevelopment or something else and, unless you know who the seller of those properties was / were and who the beneficial owner of Skylight Property is.... well, all sorts could be going on Quote Link to comment Share on other sites More sharing options...
justthisbloke Posted September 2, 2015 Share Posted September 2, 2015 Round my way it highlights those fields that have been sold off as tiny plots to swizzed foreigners in the landbanking scam. Manna to gypsies and other scofflaws who might want to set up home in an emcampment without planning permission. Who would the local planning authority take action against?! And would a Malaysian owner of a £10k (ho ho) bit of land really enter into an action to evict that'd cost £15k? So, itinerant HPC-ers, fill your boots! Quote Link to comment Share on other sites More sharing options...
VancouverGuy Posted September 2, 2015 Share Posted September 2, 2015 Does anyone know how a house in Dorcas Avenue, Stoke Gifford, Bristol is able to own "airspace"? Quote Link to comment Share on other sites More sharing options...
justthisbloke Posted September 2, 2015 Share Posted September 2, 2015 Does anyone know how a house in Dorcas Avenue, Stoke Gifford, Bristol is able to own "airspace"? The name "Solarfair Investments" gives it away - it's a lease of the zone above the roof on which solar panels are fitted. It'll be interesting when someone tries to get a mortgage for that house. Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted September 2, 2015 Share Posted September 2, 2015 (edited) Windsor House, Lower Bridge Street and Pepper Street is included in the titlePROPRIETORCEREP GROSVENOR S.A.R.L.COUNTRYLUXEMBOURGDATE REGISTERED25/07/2008PRICE PAID£126,462,585TITLECH92488 I found this £126 million for grosvenor shopping centre In Chester, http://www.thegrosvenorcentre.co.uk/ . I assume its Duke of Westminster / Grosvenor Estate / Property co. dodging the tax Edited September 2, 2015 by Saving For a Space Ship Quote Link to comment Share on other sites More sharing options...
200p Posted September 2, 2015 Share Posted September 2, 2015 Well, I guess nothing's going to be done about it (vote Corbyn?), so that adds to the bullish argument for house prices. They aren't marking anymore of it, for it to become poker chips for the world's elite. Quote Link to comment Share on other sites More sharing options...
Noallegiance Posted September 2, 2015 Share Posted September 2, 2015 Localish to me in Southend. Large prominent well known building. HM Revenue & Customs building. £30mil paid in March 2007 by 'Southend Properties Ltd' registered to the Isle of Man. Quote Link to comment Share on other sites More sharing options...
justthisbloke Posted September 2, 2015 Share Posted September 2, 2015 The whole HMRC offshore deal got a good reaming from the NAO a few years back http://www.theguardian.com/commentisfree/2010/apr/08/revenue-tax-offshore-millions-avoidance Quote Link to comment Share on other sites More sharing options...
Guest_northshore_* Posted September 2, 2015 Share Posted September 2, 2015 It is also worth noting that the data set is incomplete For example, land purchased before 2005 isn't included For example, land owned by a UK company that is, in turn, wholly owned by an offshore company, isn't included And 15% of all ownership is unregistered: http://blog.landregistry.gov.uk/giving-85-per-cent/ Or when factoring in crown ownership tenants of 30-50% of land mass are unknown: http://www.newstatesman.com/life-and-society/2011/03/million-acres-land-ownership Which is probably convenient. Quote Link to comment Share on other sites More sharing options...
South Lorne Posted September 2, 2015 Share Posted September 2, 2015 It is worth making the point that not all offshore companies that own land / buildings in the UK are set up to avoid tax. Nor is offshore company ownership always used to hide the beneficial ownership of the land. ..so they would not object to a directive to come on-shore with full transparency because they have nothing to hide....good....suggest transparency is the way forward for all with nothing to hide....all good stuff.......then we can deal with chaff.... Quote Link to comment Share on other sites More sharing options...
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