First Offshore Pub Becomes Part Of Our District Economy

We’d like to say welcome to the new offshore company which has registered land and property here in the Folkestone & Hythe District. Tavern Propco Limited registered in Jersey – a known “tax haven” at an address which appears in the ICIJ Offshore Leak Database – 3rd Floor, 37 Esplanade, St. Helier, Jersey, JE1 1AD, has become the owner of the Pullman Pub in Church Street, Folkestone (pictured below). The Pullman is the first pub in our district owned offshore, according to the land registry.

We stress the current tenants Ben & Lucy Cuthbert have nothing to do with the offshore company, except for the fact they have a lease with them, nothing more.

The previous owners of the pub and its land, Ei Group sold to Tavern Propoco in Jan of 2019. Tavern Propco was newly incorporated on the 21st Dec 2018 in Jersey. According to Jersey Companies House, Tavern Propoco has two shareholders, they are:

• NPV

• Sumod (Jersey) Limited.

NPV leave no track to follow. However, Sumod (Jersey) Limited leads back to a proxy director, James Brasher who is approved to act as Director in Jersey by the JFSC and in Guernsey by the GFSC.

Offshore companies who own land or property in the district has remained rather stable in the last three years, as the bar chart below shows.

 

We have long spoken about offshore companies, especially those who own Folkestone Racecourse – Cozumel Estates Ltd and those based at 15 Alexandra Corniche, 80 Sidney Street and Marlborough Court & Pensand House, among others.

We have long wanted our towns in our district to sign up to the Fair Tax Town as offshore companies do not tend to pay as much tax as those domiciled in the United Kingdom. We are glad to see the Shepway Green Party echoing what we have been saying for the last three years with a motion in the Chamber at the last Full Council. Cllrs voted for the decision to be referred  to the Cabinet for their observations before deciding whether to make a decision on the issue, by 28 votes for and 1 abstention. Meaning the Greens good intentions may well be kicked into the long grass.

Cllr David Wimble is the Folkestone & Hythe District Council Cabinet Member for the District Economy, and responsible for Economic development of our district. He is also the Editor and owner of the Looker Magazine via Marsh Media Limited, whose accounts are overdue by more than a month according to Companies House.

We wonder what his thoughts are on a Jersey based offshore company now owning the Pullman Pub in Folkestone – the Offshore Arms. We also ask him what he will be doing about bringing real economic development to the district given the facts in the Shepway in Context: a socio-economic and property analysis document which shows our district economy is in poor shape, as it states:

• Business survival rates are relatively poor

• Shepway has relatively low economic activity and employment rates.

• Wage levels are relatively low for both residents and workers in Shepway, being significantly lower than the South East and England averages.

• The skills and qualifications profile of Shepway’s working age population is poor in comparison to comparator areas, having the lowest percentage of residents qualified to NVQ level 4 (degree level).

• Population projections suggest that Shepway will see relatively low population growth up to 2037, with the working age population expected to remain fairly static.

The interactive chart below shows the number of companies who pay VAT and/or have a PAYE business across our district and Ashford and Dover. It does not show self employed persons unless they are VAT registered.

 

We understand a complaint about Cllr Wimble has been made to Kent Police by a member of the Folkestone & Hythe Labour Party. A crime reference number has been issued.

As a businessman himself – he publishes and owns the Looker Magazine – Cllr David Wimble really ought to lead by example and keep his company accounts up to date if he wishes to draw in new businesses to our fantastic district, even if they are offshore companies. That aside, we ask him:

what he will do in his time in office to change the poor state of the district economy?

We hope he is to busy to answer our questions because he is to busy submitting his accounts for his company – Marsh Media Limited – to Companies House.

The Shepwayvox Team

Dissent is NOT a crime

There are legitimate uses for offshore companies and trusts. We do not intend to suggest or imply that any people, companies or other entities included in this blog post have broken the law or otherwise acted improperly.