The super-rich are being advised how to use a loophole in pensions investments to shelter their wealth from Labour’s clampdown on large-scale tax dodging, the Guardian can reveal.
Undercover filming by the Guardian suggests multimillionaire UK residents are being pitched offshore products said to legally protect their fortunes from inheritance tax (IHT) and capital gains tax (CGT).
At a private event held a week before the general election, the international accounting brand Baker Tilly told advisers to the ultra-wealthy how they could use offshore pension schemes to shield their clients’ fortunes from tens of millions of pounds of inheritance taxes.
One promoter told how his client had placed £30m into a pension scheme to protect it from inheritance taxes.
As any rational player will do.
-
Live in a tax haven for the wealthy
-
Run the country into the ground with batshit insane Tory leadership
-
Lose election to milquetoast moderate liberals in a Ba’ath Party Margin wave of defeat
-
Liberals decide to raise taxes slightly
-
Yank all your money out of the UK banking system at once, collapsing the western finance system
-
Only place left with a functional banking system is China
-
Become communists
-
