Guidorama Investigation: Guardian Offices Owned Offshore

Day two of the Guardian’s ongoing Offshore Secrets investigation focused on “who is buying up London: the real identities behind Britain’s secret property deals”. Apparently some 100,000 tax avoiders have been purchasing British properties and offices using offshore companies, hiding their dealings in the UK and reducing their bill to the exchequer. Wouldn’t it be ironic if the Guardian’s very own offices were owned by an offshore company? Surely not…

Guido can reveal that 90 King’s Place, the Guardian’s offices in central London, is owned by a tax exempt offshore investment trust managed from Germany:


If and when the trust’s owners ever decide to sell the property, bought for £234 million and now worth considerably more, the owners could sell the trust offshore rather than the property itself and avoid all UK taxes. The trust itself is exempt from corporation tax in Germany. The Treasury will be denied millions of pounds.

It is incredible that the Guardian is paying millions to an offshore trust which is structured in such a way that it pays no corporation tax anywhere in the world. Guidorama tried to contact James Ball, the Guardian investigations journalist at the forefront of the Offshore Secrets series, he said he was too ill to speak to us, the Guardian Media Group’s press office claims that all the press officers are abroad. Caught on camera Patrick Wintour, the paper’s political editor, pleaded ignorance.

The hypocrisy of the Guardian moralising about tax-avoiding offshore owned properties when it is actually based in one is priceless …




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Quote of the Day

Michael Crick on Safe Seats:

“In effect, new MPs are being elected day by day now, as, amid huge secrecy, small cabals of party bigwigs pick candidates for safe seats.”

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