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Home » Local Property Owned in Offshore Tax Havens

Local Property Owned in Offshore Tax Havens

There has never been an easy way of knowing whether a company is based overseas. This is because there is no UK register of overseas companies operating in the UK. But now, this has changed. Private Eye has produced an interactive map 1 which allows you to see which properties are owned by offshore companies, the name of the company, and the country the company is based in. The map shows that numerous local properties are owned offshore including:
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PropertyCompanyBased in
The Library PubStonegate PubsCayman Islands
The Hyde Park HotelStonegate PubsCayman Islands
The Royal Park HotelStonegate PubsCayman Islands
The Dry DockStonegate PubsCayman Islands
Spring BankSpringbank PropertiesJersey
Samara PlazaProsperity ArwaJersey
The Arndale CentreSpreitGuernsey
Yates’s, Woodhouse LaneStonegate PubsCayman Islands
The Merchant, Woodhouse LaneStonegate PubsCayman Islands

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Because companies have to tell the Land Registry where they’re based when they purchase property, all the necessary information is held inside the Land Registry database. Private Eye has unlocked this database by searching thousands of Land Registry entries to uncover which UK properties are owned by offshore companies. The map for our area looks like this:
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Offshore 470
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So, if you take a dim view of companies operating in the UK trying to avoid paying tax,2 you might want to forego popping in for a pint the next time you pass any of the pubs listed above.
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Even Castle House, the building in the city centre occupied by Her Majesty’s Revenue and Customs, is owned by a company based in the Cayman Islands!
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References


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