Margaret Thatcher tax shock: £12m mansion where she saw out her days registered in TAX HAVEN – Mirror Online

THE IRON LADY, MARGARET THATCHER

THE IRON LADY, MARGARET THATCHER (Photo credit: roberthuffstutter)

 

But the £12million Central London mansion where the Iron Lady spent the last years of her life is owned by an anonymous trust registered in the British Virgin Islands – a ­notorious tax haven.Through this arrangement she could have avoided up to £5million in inheritance tax – the 40% that would have been due if it was owned by a UK individual.In the will, made in 1997, Thatcher intended to leave £1million to husband Sir Denis, but he died in 2003 – 10 years before her. Instead, her estate is split between her family, with a third each going to her twins Mark and Carol, and the remaining third shared by her grandchildren when they reach 25.Expert Richard Murphy, of Tax Research, said: “It has always been strange that Margaret Thatcher, that most British of prime ministers, enjoyed the benefits of a property registered in the British Virgin Islands.

 

via Margaret Thatcher tax shock: £12m mansion where she saw out her days registered in TAX HAVEN – Mirror Online.

 

 

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