Tag Archives: stamp duty

Osborne’s new stamp duty tax to hit Cameron’s family bolthole

I wrote this article about how the prime minister’s landed father-in-law will be affected by the new stamp duty rules introduced in the Budget.

In a bid to halt stamp duty avoidance, a charge is to be introduced on all properties held by overseas companies.

The charge is expected to be £15,000 on homes worth £2m to £5m, rising to £140,000 a year for homes worth £20m or more.

Viscount Astor’s beautiful Jura estate, likely to be valued at well over the £2m cut-off, is a favourite holiday spot for Cameron and his wife.

Full text can be found on the Telegraph website here, or after the fold.

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Stamp duty dodge to be stamped out

I co-wrote this article about Government plans to close a tax loophole which allows stamp duty to be avoided on multi-million pound properties, by buying and selling them via an overseas company.

This way, it is only the shares in the overseas company that change hands when the house is sold on, a transaction which attracts very little tax in territories like Panama or the BVI.

Legal note: both the Mittal and Goldsmith families said that stamp duty was paid when the properties mentioned in the article (all held through overseas companies) were purchased.

Full text is on the Sunday Times website here, or after the fold.

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