You are here: Home Latest Articles Tax hit is live bait for resi sharks Tax hit is live bait for resi sharks ‹ Prev | Next › Release Date: 24 September 2012 Author: Nick Whitten Source: Estates Gazette When there is blood in the water, the sharks will come... That was the view of a panel of experts predicting a feeding frenzy in the next six months for opportunistic investors looking to build high-end residential portfolios. Experts at a roundtable hosted by Hamptons International predicted that hundreds of £2m-plus mansions bought using holding companies could come to market between now and April 2013, when new mansion tax-style legislation takes effect. --- The government says its measures are part of a clamp down on tax avoidance by the super-rich, but Ned El-Imad, real estate partner at law firm Mishcon de Reya, says the motivation for many that bought using holding companies was to protect their anonymity. He argues that those owners now face three choices. They can do nothing and incur tax charges, or they could try to find a way to restructure the holding company and protect their anonymity, if that is even possible. Their final option is to sell, which undoubtedly many will try to do. To read the full article on the Estates Gazette website, please click here. Please note this is a subscription based website.