Exclusive: New register shines light on how businessmen, Gulf royals and states such as China have spent billions through offshore jurisdictions
he BBC chair, Richard Sharp, more than 20 Conservative donors, a string of billionaire businessmen and the Formula One driverare among those who have declared they own UK property through offshore jurisdictions, a Guardian investigation has found.
A spokesperson for Sharp said: “Mr Sharp is a UK citizen, UK domiciled and has always been meticulous about always paying the full amount of tax here. The flat in question is Richard’s elderly mother’s home. through offshore entities, including distribution centres vital for the flow of UK goods, such as food.
Other Tory donors with UK property held offshore include the billionaire Reuben brothers, property developers with 106 vehicles spanning the BVI to Guernsey. A spokesperson for Reuben Brothers said: “All the entities are all liable to UK taxes and any taxes due have been paid in compliance with HMRC.”
The Guardian believes there is a public interest in reporting on the business interests and property ownership structures of wealthy, politically connected and influential people.The UK government’s new register of overseas entities was created to improve transparency around British property ownership and help the authorities ensure the right amount of tax is paid. Holding property through offshore companies is legal.
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