- Banned
- #1
..if you had a circa £150m capital gain? Obviously get very drunk and spend alot of money but would you move to Belgium to avoid paying UK Capital gains tax?
Old Macca made sold out in June 2007. I believe you have to be non-UK resident when the share are sold and remain so for 5 years after which date you can move back to UK full time and not suffer the tax. Wonder what he'll do in June 2012? Live in spain I imagine.
I reckon the shares would have been non trading assets (investment company rather than a property development company) and therefore under the tax rules in place at the time I think Macca has avoided (totally different from illegal evasion) tax of £36m at 24% which was the effective rate applying if you'd owned a non-trading asset for ten years. If it was a trading company then the tax rate would have been 10% and a saving of £15m.
Have to say at those figures i'd be tempted to do the same as him - fair play Private jets, helicopetrs etc, no problems 90 days a year max in UK. Lovely pad in Brussels etc. Chips, Stella, lovely.
As you can see I'm obssessed with Valad - further evidence that this is deal of the century:
http://www.watoday.com.au/business/tears-and-sympathy-for-the-deprived-20091130-k17s.html
http://www.theage.com.au/business/the-winners-and-losers-of-2009-are-x2026-20091225-lexd.html
Old Macca made sold out in June 2007. I believe you have to be non-UK resident when the share are sold and remain so for 5 years after which date you can move back to UK full time and not suffer the tax. Wonder what he'll do in June 2012? Live in spain I imagine.
I reckon the shares would have been non trading assets (investment company rather than a property development company) and therefore under the tax rules in place at the time I think Macca has avoided (totally different from illegal evasion) tax of £36m at 24% which was the effective rate applying if you'd owned a non-trading asset for ten years. If it was a trading company then the tax rate would have been 10% and a saving of £15m.
Have to say at those figures i'd be tempted to do the same as him - fair play Private jets, helicopetrs etc, no problems 90 days a year max in UK. Lovely pad in Brussels etc. Chips, Stella, lovely.
As you can see I'm obssessed with Valad - further evidence that this is deal of the century:
http://www.watoday.com.au/business/tears-and-sympathy-for-the-deprived-20091130-k17s.html
http://www.theage.com.au/business/the-winners-and-losers-of-2009-are-x2026-20091225-lexd.html
