When I heard about Nick Ross selling his house and making an obscene amount of money, I couldn’t help but think that this must be some sort of avoidance.
So, I sat down with the members of the JTN and discussed how we could take a slice of the proceeds.
We decided that the best way is to classify Nick Ross as a business and remove his right to principle private residence relief using section 224 TCGA 1992.
This is what we tax experts call an anti avoidance provision. So it must be applicable here because Nick Ross is not paying as much tax as we think he should.
If the coalition weren’t part of a global neoliberal conspiracy they would have done this already.