Property tax to raise five times expected amount

A crackdown on the rich and famous who own mansions through offshore companies is on course to raise five times more than expected. Pop stars, actors and jetsetters were able to avoid paying stamp duty when they bought and sold multi-million pound properties by selling it as part of a ‘company’ based abroad. A move to close the loophole had been expected to raise £20million this year, but it is now set to net the Treasury £100million.

Read more in the Daily Mail.