If someone tells you a foreign company can own your UK property so you can avoid paying capital gains tax by having nominee directors meeting in some far-off country, don’t believe them.
Three simple rules apply to paying tax:
If you live in the UK, you must pay tax on your worldwide income and capital gains in the UK.
Companies resident in the UK must pay tax on their worldwide income and capital gains in the UK.
A company is resident in the UK in either of two circumstances:
If it is registered here.
If it is registered offshore but management and control is exercised from the UK.
It’s the decisions you make here that count, not those made in your name by some shadowy nominees basking in a sunny tax haven.
dummies
Source:http://www.dummies.com/how-to/content/exploding-offshore-tax-myths.html
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