Wednesday, February 17, 2010

Rich hunt

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 (2181 views)
Please complete the required fields.



5 thoughts on “Rich hunt

  • Thecountofnowhere says:

    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 ?

    Reply
    Please complete the required fields.



  • mark wadsworth says:

    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.

    Reply
    Please complete the required fields.



  • Seems a bit rough to me, he’s in the UK for fewer than 91 days a year..

    Reply
    Please complete the required fields.



  • 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!

    Reply
    Please complete the required fields.



  • 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.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>