Only the little people pay tax

So it has begun.

One can now register one’s interest in purchasing a flat at the the under construction Folkestone seafront development opposite the Leas lift, owned by the highly successful business man and multi millionaire, Sir Roger Michael De Haan.

The website, titled Shoreline Folkestone, carries a new strap line ‘Where the Lands Meets the Sea‘. And given Harold R Wanless, a professor of geology and regional studies at University of Miami believes sea levels are going to rise by at least 20ft or more, the buildings will in time truly “meet the sea”.

To reach “Where the land meets the sky” one must pass the place making fountain, which is the focal point for the whole of the development happening in and around the harbour area.  The fountain forms a gateway to the development. It’s a hand, reaching out to the rest of Folkestone. It ushers you into an attractive environment, telling you ‘it is good to be here, to do business here ’.

When one looks at the website for the properties “Where land meets the sea”one sees two names – Jenners and Folkestone Harbour & Seafront Development Ltd. The latter is a dormant company owned by the highly successful business man Sir Roger De Haan, and has paid no tax as it’s generated no profit since it was set up in Nov 2016, according to records at companies house.

The company with ultimate control of Folkestone Harbour & Seafront Development Ltd is Folkestone Harbour Holdings Limited. Which is also owned by the highly successful business man and multi millionaire,Sir Roger Michael De Haan.  This company as well has paid no tax as it’s generated no profit, according to the latest accounts lodged at Companies House. 

 

With the exception of Folkestone Harbour Company Ltd – who too paid no tax, as it generated no profit, according to the latest accounts lodged at Companies House –  the subsidiaries listed below are limited partners in Folkestone Harbour Ltd Partnership, an English Qualifying Partnership.

Folkestone Harbour (1) Ltd – This company according to the latest accounts lodged at Companies House, has paid no tax, as it generated no profit

Folkestone Harbour (2) Ltd – This company according to the latest accounts lodged at Companies House, has paid no tax, as it generated no profit

Folkestone Harbour (3) Ltd – This company according to the latest accounts lodged at Companies House, has paid no tax, as it generated no profit

Folkestone Harbour (4) Ltd – This company according to the latest accounts lodged at Companies House, has paid no tax, as it generated no profit

Folkestone Harbour Limited Partnership –  This company according to the latest accounts lodged at Companies House, has paid no tax, as it generated no profit

Folkestone Harbour (GP) Ltd – This company according to the latest accounts lodged at Companies House, has paid no tax, as it generated no profit

These companies are for investment purposes, for place making purposes – ie to develop the land – and at present pays no tax, as no profit has been generated. It’s to early to speculate if they will ever pay tax, only time will tell.

The land on which the new development is being built is owned by Folkestone Harbour Nominee (1) Ltd and Folkestone Harbour Nominee (2) Ltd and was purchased on the 24 April 2007 for £21,339,500, according to land registry documents. Sir Roger Michael De Haan (pictured) owns both these companies.

Sir Roger De Haan  and his brother Sir Peter, have according to the Sunday Times Rich List for 2021,  a combined wealth of £900 million. They made this money legitimately and were helped to do so by using good accountants and lawyers to pay all the tax which was necessary by law.

All the companies listed in this post and owned by the successful businessman, Sir Roger De Haan, have genereated no profit, so need not pay no tax. Only the little people pay tax, regardless of the landmark deal the G7 struck yesterday

Sir Roger has transformed Folkestone that’s indisputable. Whether it’s for the better or for the worse depends on your personal point of view. Along the way his ideas have gone through three or four revamps until arriving at housing, housing and yet more housing. Only 5 – 7.5% of the units to be provided are affordable rented units as defined by Annex 2 of the NPPF. This provision of affordable housing across the whole site is dependent on the growth value achieved as a result of regeneration uplift; this is a matter the applicant would seek to discuss further with the Council and its advisors, according to the Viability Assessment. Is it possible they’ll be no growth value, as the regeneration uplift will not be sufficient?

The whole development has been controversial from the very first public meeting chaired by former leader of the District Council Cllr Rory Love in 2003.

Many wanted the ferries to remain, many wanted the Rotunda to remain, many wanted the market to remain, while Sir Roger has wanted to regenerate Folkestone, ever since he sold Saga for a reputed £1.35 billion in 2004.

Sir Roger has got what he wanted, regarding the seafront development albeit with a controversial s73 minor amendment back in 2018.  This application was assisted by expert legal advice from Sir Edward Mummery QC.

Meanwhile as things continue as they are, that being the successful businessman Sir Roger De Haan’s companies generating no profit, so paying no tax on any of the companies listed above, only the little people of the district will continue to pay tax.

Update

This article has been updated as it previously might have given the impression Sir Roger Michael De Haan was paying no tax on his companies due to some expert legal and accountancy chicanery. We apologise to Sir Roger for any false impression we may have given, the companies are paying no tax as they’ve generated no profit since their inception.

The Shepway Vox Team

Journalism for the People NOT the Powerful