I did say some years ago that it’s easier in this country to buy a football club than to pay £1,000 into an ISA. You need a bob or two more (depending on the team you’re after) but the point is that money talks and can oil and grease all sorts of wheels. If you’re persona-non-grata and/or your big bucks come from dodgy sources, open a few offshore companies and no-one will guess it’s you. Trying to sanction Russian oligarchs brought this to the fore, but nothing much has changed. We regularly get calls from providers asking for additional ID and proof of source of funds for the smallest of investments. I doubt the checks would be as thorough if you wanted to buy Canary Wharf, for example…
“Why most won’t need to worry about IHT on pensions”
Many a government has made the point that only a minority will be affected by this or that tax change or tinker. It is, however, both perception and aspiration which are important, and they are what makes IHT the ‘most hated’ of all taxes – along with all the others, of course.
