The practice is denying the country more than pounds 1billion a year in lost tax, including millions in stamp duty.
The Land Registry has calculated that in the past 12 years a total of 94,760 properties have effectively been placed offshore and beyond the reach of the taxman. They include castles, Highland estates, townhouses and even parking spaces.
The properties are worth some 200 billion pounds $A300 billion.George Osborne, the chancellor, is expected to crack down on stamp duty avoidance in this weeks budget. However, hundreds of millions of pounds in tax will have been lost through the use of this method.
Jagger, who has been non-resident for tax for 40 years, signed a 99-year lease on a property in Chelsea, west London, in 2008 through a company based in the British Virgin Islands BVI.
via UK chancellery to clamp down on properties held in offshore companies | The Australian.
Recently I had the honour of speaking at Cape Town Entrepreneurship Week, a four-day event that was held at the Cape Town City Hall. As per my usual style of presentation, it was made up of images that I spoke to, rather than words on slides. So since distributing my presentation won’t help, I wrote this summary to share what I spoke about.
My speech was based on how challenger-brand thinking can be used as a framework for entrepreneurship and some other thoughts. Challenger-brand thinking is based on Eating the Big Fish, a book by London-based business strategist Adam Morgan.
The book establishes eight credos or behaviours that are consistent across ‘challenger brands’ such as Nike, Apple, Pepsi and even Nando’s. I have adapted some of the credos to creating a more meaningful dialogue on entrepreneurship.
via How challenger-brand thinking can be used for entrepreneurship
Image via Wikipedia
Johannesburg – South African-born fashion designer and entrepreneur Lesego Malatsi has gone from stitching ready-to-wear garments in a Soweto township mall set amid shanties to savouring the sweet success of London’s fashion week.
Malatsi had his first international show at the weekend in the British capital, where he displayed a collection of new-look African prints at the Fashions Finest event backed by Richard Branson‘s Virgin Unity initiative.
“Honestly, you don’t know how to prepare,” Malatsi said from London in a telephone interview with Reuters.
Malatsi has taken a long road to London that started in a tiny home in Soweto.
He first tried his hand at accounting after leaving high school, but a stint at a cosmetics company altered his career aspirations.
“(It) changed my mind and how I saw things,” he said.
He then studied fashion at the Cape Peninsula University of Technology and has been making clothes since.
via Success for SA designer: Fin24: Entrepreneurs.