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Snugglybear

Ultimate Owners Of Uk Property May Be Forced Into Spotlight

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Can't see a thread on this yet.

http://www.theguardian.com/uk-news/2016/apr/21/ministers-consider-forcing-disclosure-of-true-ownership-of-uk-property

"Offshore companies buying UK property could be forced to reveal their ultimate owners under plans being considered by ministers to crack down on tax evasion and money laundering.

The proposals would shine a spotlight on the foreign firms that hold billions of pounds in British property without having to declare who is behind them. It could also require foreign companies bidding for public sector contracts to do the same.

David Cameron is already forcing all UK companies to reveal their ultimate owners under the new plans for a register of beneficial ownership from June, so the plans would bring foreign owners of British property into line with those rules."

More at link.

Good, if it ever comes about.

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There should be a single register available of all UK property, who owns it and contact details for that person available to the public.

When I used that Private Eye mapping tool I discovered an entire side of a street near me where registered to a business in the Maldives.

The only reason to do that is secrecy to enable tax avoidance.

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There should be a single register available of all UK property, who owns it and contact details for that person available to the public.

When I used that Private Eye mapping tool I discovered an entire side of a street near me where registered to a business in the Maldives.

The only reason to do that is secrecy to enable tax avoidance.

Is that still avalible ? sounds interesting how does it work

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Was wondering the same thing because spotted one in an area I was looking at. Airspace over house purchased by a company called Solarfair, looked it up, Solar PV asset management, based in E. Sussex but does its asset management through Jersey. Pretty standard management company tax avoidance arrangement by the look of it. Why buy airspace - perhaps it's a good idea to buy airspace over big solar projects in case, er, someone builds something that, er, casts a shadow over them? Guessing.

Edit - I wonder whether Private Eye made its map unbelievably murky and difficult to view as a sort of stylistic comment on the whole business. Gawd luv 'em.

Edited by North London Rent Girl

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Was wondering the same thing because spotted one in an area I was looking at. Airspace over house purchased by a company called Solarfair, looked it up, Solar PV asset management, based in E. Sussex but does its asset management through Jersey. Pretty standard management company tax avoidance arrangement by the look of it. Why buy airspace - perhaps it's a good idea to buy airspace over big solar projects in case, er, someone builds something that, er, casts a shadow over them? Guessing.

Edit - I wonder whether Private Eye made its map unbelievably murky and difficult to view as a sort of stylistic comment on the whole business. Gawd luv 'em.

Possible but i can see the air space owned by the same company you have mentioned over two houses next door to each other in the middle of quite a large housing estate, the air space was acquired/registered a good 20+ years after the estate was built

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Huh. A mystery, aka something I don't know. Maybe they want to build upwards, something like the shard. Maybe the people living in the houses in the middle of the housing estate are, er, quirky millionaires who are afraid of government drones flying over their houses and taking pictures of them so they want control of the airspace but want to keep it all a secret. That's it!

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Huh. A mystery, aka something I don't know. Maybe they want to build upwards, something like the shard. Maybe the people living in the houses in the middle of the housing estate are, er, quirky millionaires who are afraid of government drones flying over their houses and taking pictures of them so they want control of the airspace but want to keep it all a secret. That's it!

It all seems to be owned by solarfair strange, there must be a logical explanation :wacko::ph34r:

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Was wondering the same thing because spotted one in an area I was looking at. Airspace over house purchased by a company called Solarfair, looked it up, Solar PV asset management, based in E. Sussex but does its asset management through Jersey. Pretty standard management company tax avoidance arrangement by the look of it. Why buy airspace - perhaps it's a good idea to buy airspace over big solar projects in case, er, someone builds something that, er, casts a shadow over them? Guessing.

Edit - I wonder whether Private Eye made its map unbelievably murky and difficult to view as a sort of stylistic comment on the whole business. Gawd luv 'em.

Just another guess but along those lines could this be something to do with rent a roof solar panels?

I think i will have a look to see if any of the address near me have solar panels

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Sometimes there is a legal issue where a construction company erects a crane for their site but it also swings over the top of other properties to get deliveries in etc.

Right of use of airspace or something like that needs to be negotiated with neighbours.

But you are not in central London so I don't think that applies here? Not expecting a tower crane arriving?

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I you look on the map at this link http://www.private-eye.co.uk/registry some of the purple dots show the location and address if you hover the cursor over them (not all the dots are lease hold air space)

They are all lease hold some have price paid data all ones in my area are owned by Solarfair i`m sure they have nowt to do with cranes rent a roof solar panels is my best guess

Edited by long time lurking

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Yes think tower cranes in tiny rural village unlikely tho these days who the hell knows... Intriguing, you get the panels for free and seem to be able to use the power directly, tho am sure have got that wrong, didn't know you could do that. Praps investors take the profit from the power sold to the grid? Anyway, we're off topic and these people are surely not too evil. Just can't work out how it works, annoying.

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Yes think tower cranes in tiny rural village unlikely tho these days who the hell knows... Intriguing, you get the panels for free and seem to be able to use the power directly, tho am sure have got that wrong, didn't know you could do that. Praps investors take the profit from the power sold to the grid? Anyway, we're off topic and these people are surely not too evil. Just can't work out how it works, annoying.

Don't know much about them but so long as these schemes do what they are surely intended - provide cheap energy for the house occupier.

Are their roofs (or the centimeres above) being taken into new ownership under these schemes?

Edited by frankief

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Don't know much about them but so long as these schemes do what they are surely intended - provide cheap energy for the house occupier.

Are their roofs (or the centimeres above) being taken into new ownership under these schemes?

Yes ,well not quite the roof but the solar panels ,there is normally a 20 year contract with the owner (with a charge attached to the property),basicly the company skim a percentage of the feed in rate over that time period ,after the contract ends the panels belong to the homeowner ,the rub here is in the early days of this industry (not sure about today's tec) the panels were said to have a 20-25 year life span best

Far less of this going on now as the feed in tariff was reduced significantly buy the conservatives not long after they were elected first time around

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Beleagured liquor baron Vijay Mallya lives in $15 million British mansion

Liquor baron Vijay Mallya, who owes Rs. 9,000 crores to various banks in the country, has been living at a $15 million mansion in England's Hertfordshire county, The Sunday Times reported.


The mansion was bought from the father of Lewis Hamilton, the Formula One champion, by a company with offshore links, the daily said.

The use of companies with offshore links to buy properties in Britain has come under increasing scrutiny as the practice can allow the real owner or beneficiary to remain hidden sometimes for tax purposes.


Such companies collectively hold up to $245 billion of British property, much of it in London and the home counties.
Edited by Fairyland

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