Socialist Worker

Where is rich’s tax?

Issue No. 2280

One Hyde Park, the world’s most expensive block of flats, is home to the richest of the super-rich.

But it has been revealed that only nine out of the 62 luxury Knightsbridge apartments are registered to pay council tax.

Most of the flats are owned by firms based in tax havens, where the council can’t trace the residents. And the council hasn’t managed to get a response out of the block’s Guernsey-based owners either.

Of the billionaire residents who do pay tax, just four at the £163-million-a-flat complex have paid the full rate of £1,375.

The other five pay a discount council tax rate—because it is their second home.


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Mon 28 Nov 2011, 13:46 GMT
Issue No. 2280
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