Super-rich Dodge Stamp Duty

Super-rich Dodge Stamp Duty

How the super-rich avoid stamp duty while ordinary families pay tens of thousands

The super-rich are costing the taxpayer up to £1billion a year by exploiting a legal loophole which allows them to avoid paying stamp duty when selling their exclusive homes – meanwhile, ordinary families are paying tens of thousands of pounds simply to move home.
The tax avoidance involves transferring ownership of a property to an off-shore company so when it comes to be sold the buyer purchases the company as a whole assuming de-facto ownership of the property.
This means that while a family buying a home costing £400,000 would pay £12,000 to the Government, a multi-millionaire buying a luxury pad could pay nothing.

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