Some 100000 properties in the UK, registered abroad - Finance

Some 100,000 properties in the UK, many of them multimillionaires, are registered abroad, the State assumes a loss of 1,000 million pounds (1,200 million) in taxes, according to today unveiled ?The Sunday Times?.

The British record of the property estimated in the past 12 years 94,760 properties, including castles, country houses and even garages have been domiciled abroad and tax havens to avoid paying taxes for them.

The Sunday said that rock stars like Mick Jagger or Bob Geldof or entrepreneurs like Lakshmi Mittal, the richest man in the United Kingdom, have seen their homes and real estate on behalf of companies registered in tax-free territories.

The Liberal Democrat party, which governs in coalition with the Conservatives, has proposed a new tax on homes over a million pounds (1.2 million).

This tax called ?tax mansions? would be 0.5 percent and would affect about 250,000 owners of the country, according to the proposal has not been well received in conservative ranks.

For Jagger, who for 40 years has the status of British non-resident, allowing you to avoid paying for properties registered abroad, put a house in the exclusive Chelsea neighborhood of London, purchased recently, name of a company based in the Virgin Islands (see the stock market today).

Rolling Stones leader, through a spokesman, told the newspaper that the operation is done for security reasons and that does not involve any tax benefit.

The Irish musician and activist against poverty in the Third World Bob Geldof also has two of its properties in London on behalf of companies in the Virgin Islands, which he considered as ?legitimate.?

The housing register as part of a company, within or outside the United Kingdom, has tax benefits when selling and is exempt from 40 percent inheritance tax.

The Sunday Times has recorded 122 different territories used by Britain to register their property and thus fall outside the scope of the Treasury.

The Isle of Man, located between Great Britain and Ireland, is the most popular, followed by the Virgin Islands and European Union countries such as Holland, Ireland and Germany.

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Source: http://www.thefinanceanalysis.com/2012/03/18/some-100000-properties-in-the-uk-registered-abroad/

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