How it worked
The advisers devised the structure and decided the price at which the jet should be leased between the various companies in the chain. Appleby staff set up a Manx company and provided a director, and EY arranged the VAT registration and secured approval for the scheme from customs. This arrangement is not unlawful.
The jet was owned by a BVI company called Stealth Aviation Ltd. At a cost of €140,000 a month, it leased the plane to a specially created Isle of Man company, Stealth (IOM) Ltd, incorporated in January 2013.
Stealth (IOM) leased the plane to a private jet operator in England, at a slightly higher price. This margin allowed the Isle of Man company to turn a profit and therefore claim to be “in business”.
Based at Farnborough, the jet operator is a genuine business that services and charters private jets. It was paid a fee to look after Hamilton’s plane, provide pilots and crew, and do repairs and maintenance.
The operator then signed further rental agreements with Hamilton directly, and with his Guernsey-based company BRV Ltd. Each company in the chain added its percentage to the costs.
The lease payments were flowing out of bank accounts belonging to Hamilton at one end and into bank accounts belonging to him at the other end. The profits made by the Isle of Man company belonged ultimately to its owner and only customer: Hamilton.
https://www.theguardian.com/news/2017/nov/06/lewis-hamilton-avoided-taxes-jet-isle-of-man-scheme-paradise-papers
Nicht mal Mehrwertsteuert zahlt das Pack...