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Northern & Shell Group Ltd and Portland Investments Ltd - are owned by trusts in Guernsey, the Channel Islands tax haven.
Northern & Shell is a British publishing and television group. The holding company name is Northern and Shell Network Ltd. Launched and founded in December 1974 and currently owned by Richard Desmond, it publishes the Daily Express, Sunday Express, Daily Star and Daily Star Sunday, and the magazines OK!, New!, Star, and TV Pick Magazine. Northern & Shell also owned three entertainment television channels: Channel 5, 5* and 5USA. The company also owns Portland TV, which owns the adult TV channels; Television X, Red Hot TV, and others.
Owning British property offshore is as old as the (largely postwar) growth of financial services in Britain’s network of overseas territories and Crown dependencies. It has been a favoured way, along with clever trust structures, for generations of families to pass on wealth without paying estate duties (now inheritance tax).
Perhaps the most prominent such family are the Harmsworths, whose male heirs became Lords Rothermere a century ago and now run the newspaper dynasty behind the Daily Mail. The empire is controlled by the family through a Bermudan company itself owned by a series of trusts. The 3rd Lord Rothermere, Vere Harmsworth, became a tax exile in the 1970s, bequeathing the opportunity to claim “domicile” status in France to his son and current Lord Rothermere, Jonathan.
The setup allows not just the multi-billion-pound business interests led by the patriotic Mail to be passed on inheritance tax-free, but also substantial property interests when held offshore. So tracts of farmland in Dorset are now owned by Harmsworth Trust Company (PTC) Ltd in the British Virgin Islands, while even a space in an underground Kensington car park near the Mail offices is owned by Harmsworth Holdings Ltd in St Lucia.
How do you know I'm rich and if I was rich then I would be like all the other rich people that the right are so enamored of and ensure that my tax payments were structured so that I would either pay minimal or no tax (i.e. offshore, non-dom status, etc.) therefore I wouldn't be paying for the disadvantaged in society? Everything you say, ever, is pure conjecture...
If you are a contractor earning over £400 a day you are rich
Who pays the ageing population? rich people like you of course
How do you know I'm rich and if I was rich then I would be like all the other rich people that the right are so enamored of and ensure that my tax payments were structured so that I would either pay minimal or no tax (i.e. offshore, non-dom status, etc.) therefore I wouldn't be paying for the disadvantaged in society? Everything you say, ever, is pure conjecture...
Incredible how the left think that the best thing that can be done for the poor or disadvantaged is to not let them work. It is almost as if the thought of the less privileged working hard and bettering themselves is somehow threatening them.
Incredible how the left think that the best thing that can be done for the poor or disadvantaged is to not let them work. It is almost as if the thought of the less privileged working hard and bettering themselves is somehow threatening them.
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