UK plugs tax loopholes for Islamic mortgages
The UK Treasury is searching for laws in the Finance Bill that can block means of escapes in taxes. That includes conventional and alternative (Islamic) real estate transactions.
Between others, they want to stop people that are using offshore vehicles in order to avoid the payment of full stamp duty tax (SDLT).
The manipulation of these means of escape by acute lawyers and tax accountants is wellknown by HM Treasury but numerous Chancellors failed to stop this.