Composer and impresario Andrew Lloyd Webber and his wife have won a tax battle after failing in an attempt to buy two villas on a proposed complex in Barbados. The couple agreed to buy two villas plus land in 2017, one on sale for £10m and one on sale for more than £7m, a tribunal judge heard. They agreed to pay deposits and spent more than £8m in total but developers ran into difficulties and the villas were never built. Lloyd Webber and Madeleine Lloyd Webber subsequently made claims for capital gains tax losses. Judge John Brooks has outlined details of his decision in a ruling published online after analysing the case at a tax tribunal hearing in London.

Source: Irish Examiner December 13, 2019 12:56 UTC