Margaret Thatcher’s
£6 million townhouse is owned by an Offshore Company with links to Tax Havens
Financial
experts said it could have been a scheme which would help her estate avoid
millions of pounds in inheritance tax. But because the former prime minister’s
affairs are shrouded in secrecy, it may be impossible to find out.
The
trail leads to offshore businesses in the British Virgin Islands with links to
Liechtenstein and Jersey.
The
£6million property Thatcher lived in for more than 20 years is owned by
Bakeland Property Company, based in the Caribbean territory. Their official
address is a PO Box in Liechtenstein and they had their original roots in St
Helier, Jersey.
As Lady Thatcher did not own the house herself it is possible, depending
on the terms of her will, that her children Mark and Carol could benefit. If
the property was listed in the name of their mother, they would of been subjected
to 40 per cent tax on the value of the home – an estimated £2.4million.
Tax campaigner Christensen
added: “There are huge financial benefits for an offshore company to own a
property or leasehold, particularly in connection with stamp duty and
inheritance tax.
“A
company doesn’t die. If a person dies, the property has to be passed on to
someone else – obviously this isn’t the case with a company.
“This
can be very beneficial indeed and can save a large amount of money in taxes
which would be otherwise due.” www.easetaxburden.com
International Services Ltd can help you greatly with your needs in Retiring, Living, Working and Investing in Belize. We set Offshore Companies (IBC) in several different jurisdictions.
For more information see our services below:
· International Business Companies (IBCs)
· U.S. Dollar Accounts
· Asset Protection
· Bahamas, Panama, Seychelles & other Foreign IBCs
· Trust and Trustee Services
· Belize and Panama Private Foundations
· Local Company (Chapter 250)
· Belize Dollar Accounts
· Mail Forwarding and Virtual Office Services
· Work Permit and Residency Services
· Nationality and Passport Services
· Qualified Retired Persons Program (QRP)
· Licensed Escrow Services
· Purchase Agreements
· Owner Financing Agreements
· Land Title Investigation
· Transfer of Title
Email: gomezisl@btl.net
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ReplyDeleteGenerally, an amount included in your income is taxable unless it is specifically exempted by law.
ReplyDeleteinheritance tax planning in the UK