Wednesday, April 20, 2016

Poor rich people

House Prices: LondonÂ’s super-rich are now renting to avoid stamp duty and taxes

London’s super-rich are increasingly turning to renting in order to avoid paying stamp duty on expensive purchases, a new report shows. Henry Pryor, a buying agent, told the Financial Times that the Panama Papers has highlighted that ‘no one can buy quietly’ anymore.

Posted by tom101 @ 12:37 PM (3602 views)
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3 thoughts on “Poor rich people

  • Makes a lot of sense when your buying a house in cash rather than borrowing money through a mortgage, if you can get better returns in business then there is little to be gained when the expenses start adding up such as stamp duty and taxes

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  • ‘no one can buy quietly any more’ – that’s takes the cake for a euphemism! This is largely good news – just so long as a half decent effort is made to collect the taxes on these rentals. I wonder how many of these are also sham rentals, i.e. someone renting from a company that they own, leveraged to the hilt to wipe out taxable income?

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  • ‘no one can buy quietly any more’
    How fantastically untrue. What proportion of tax haven companies had information revealed in the Panama papers? A fraction of a hundredth of a percent?! Interesting that the MSM want to convey that the whole thing has been blown open ie there is nothing more to reveal. Ridiculous!

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