TaxPersonal TaxTax haven for sale

Tax haven for sale

One of the British Channel Islands is being offered for sale which could mean substantial tax benefits for its new owner.

One of the UK’s tax havens is up for sale for a reported £15m.

The lease to Herm is on offer, which would give the new owner breaks include
paying 20% on income and avoiding death and capital gains tax.

Residents of the eight inhabitable British Channel Islands all enjoy the tax
breaks. The new oner of Herm will be neighbours with Sir David and Sir Frederick
Barclay the billionaire owners of the Ritz Hotel chain and the Telegraph Group.
They bought the tax haven of Brecqhou in 1993 for £2.33m.

The asking price includes a 40 year lease, a manor house, 13th century chapel
and 80 acres of farmland.

There are two estate agencies that are tasked with selling on the haven,
believing it would be suitable for either a wealthy young family or a
hospitality company.

Further reading:

EU
agrees to review tax haven rules

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