How to be discreet about property ownership

[larkfield]

Hi,
I have a portfolio of property in a Ltd company, I want to hide the ownership of these properties,firstly this is not for tax avoidance , I am happy to the pay the tax on my profits.

I have head about Isle of Man Trusts etc... or creating an entity to hold the properties in.

Does anyone have any knowledge of this, or any knowledge of moving properties from a ltd company to a irrevocable trust ?
Thanks

 

[KAC]

You really need to seek paid for advice as you also need to consider whether any capital gains tax will be crystallised and any impact of stamp duty land tax

 

[The Byre]

Well, a neighbour has a large property (540 acres) at the end of our lane and that is owned by Ltd. with a lawyer running the thing as a director. That is in turn owned by a Guernsey company that is in turn owned by a company in the Bahamas.

The estate has to pay rent and can get VAT back on all expenditure, such as vehicles, machinery and repairs. He sold out to the Qatari royal family a couple of years back, by selling the Guernsey company to the families investment trust, but we only know that from the estate manager - so well-cloaked.

 

[STDFR33]

Well, a neighbour has a large property (540 acres) at the end of our lane and that is owned by Ltd. with a lawyer running the thing as a director. That is in turn owned by a Guernsey company that is in turn owned by a company in the Bahamas.

The estate has to pay rent and can get VAT back on all expenditure, such as vehicles, machinery and repairs. He sold out to the Qatari royal family a couple of years back, by selling the Guernsey company to the families investment trust, but we only know that from the estate manager - so well-cloaked.

Residential letting is VAT exempt.

 

[The Byre]

And . . . ?

 

[STDFR33]

And . . . ?

You can't recover VAT on supplies that relate to exempt supplies.

 

[obscure]

You can't recover VAT on supplies that relate to exempt supplies.

Pretty sure the word "Estate" refers to a country estate (IE a farm) not a residential estate.

 

[The Byre]

Mixed. Residential parts, farms, minor manufacturing and processing of farm goods, private rental, B2B rental and probably stuff I don't know about.

 

[Gordon - Commercial Finance]

If not for tax avoidance what is the reason for wanting to hide ownership...if you don't mind me asking?

 

[webgeek]

Typically cloaked to prevent competition from spying activity and using it to make their competing more costly - by taking action in the area or against the property.

Have a look at Dominica where all kinds of creative options are available, or even USA (Nevada and Wyoming) where shareholders need not be disclosed.