The tax arrangements of property tycoons the Candy brothers , developers of One Hyde Park and owners of Guernsey - based CPC Holdings , have been exposed in the Panama Papers . The Guardian newspaper has revealed that the brothers purchased and sold land worth $ 27 m via offshore companies in moves that may have allowed them to avoid almost all UK tax on the transactions . Although the tax arrangements were not illegal , they may lead to further demands for greater transparency over UK property ownership . The transfer of the Parkwood estate, which neighbours Windsor Great Park, began in 2006 when a British Virgin Islands company called Bobstay Developments Limited paid £18.6m for the land. At the time of the deal , properties held through offshore business could avoid stamp duty and capital gains tax .
The tax arrangements of property tycoons the Candy brothers , developers of One Hyde Park and owners of Guernsey - based CPC Holdings , have been exposed in the Panama Papers . The Guardian newspaper has revealed that the brothers purchased and sold land worth $ 27 m via offshore companies in moves that may have allowed them to avoid almost all UK tax on the transactions . Although the tax arrangements were not illegal , they may lead to further demands for greater transparency over UK property ownership . At the time of the deal , properties held through offshore business could avoid stamp duty and capital gains tax .