Owning UK homes through offshore companies falls 22%

The number of high-end British homes owned through offshore companies has fallen by more than a fifth since 2013, following a government crackdown on opaque ownership structures. Recent figures published by the tax authorities and analysed by LCP, a real estate group, show that the number of homes in the UK valued at more than £2m and held in offshore companies has fallen to 3,100 properties, a decline of 22% since 2013, when new tax rules came into force. Wealthy foreign property owners have traditionally held property through offshore structures to protect their privacy and reduce their inheritance tax bills. Click here for the full FT article (£)