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Man who invented Blackberry and still worth £460m loses £1.2m stamp duty battle with HMRC
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Man who invented Blackberry and still worth £460m loses £1.2m stamp duty battle with HMRC

The inventor of the once coveted Blackberry mobile device has lost a hefty £1.2 million tax battle over unpaid stamp duty.

Mike Lazardis, 63, was hailed as a cutting-edge tech genius when his go-to smartphone was launched in the early 2000s.

But the gadget fell into oblivion with the arrival of the Apple iPhone.

Once worth around £3 billion, the Greek-Canadian electrical engineer now invests in quantum computing technology and lives on a more modest fortune of £460 million in Hertfordshire with his wife Ophelia.

His luxury country estate, near the posh village of Cuffley and for which he paid £10.75 million in February 2022, has been the subject of a tax row in recent months.

Man who invented Blackberry and still worth £460m loses £1.2m stamp duty battle with HMRC

Mike Lazardis, 63, inventor of the once coveted Blackberry mobile device and pictured with his wife Ophelia, has lost a hefty £1.2million tax battle over unpaid stamp duty.

Lazardis' luxury country estate, near the posh village of Cuffley and for which he paid £10.75million in February 2022, has been the subject of a tax row in recent months.

Lazardis’ luxury country estate, near the posh village of Cuffley and for which he paid £10.75million in February 2022, has been the subject of a tax row in recent months.

The opulent five-bedroom detached property, called Woodlands, features landscaped gardens, a heated outdoor swimming pool and a lakeside tennis court, a coach house and three self-catering cottages.

An estate agent’s brochure for the 45-year-old property describes it as “an exceptional Nash-style villa with three cottages set in 106 acres of mature grounds.”

Lazardis argued that, as 40 acres of his estate were used to make hay by an external company, which had paid the previous owner £1,400 a year for the privilege of cutting grass, his estate had commercial mixed use and residential.

As such, Woodlands was entitled to a reduction in stamp duty and Lazardis only had to pay a mixed use rate capped at 5 per cent, down from a maximum of 12 per cent.

But officials at Her Majesty’s Revenue and Customs (HMRC) didn’t see it that way and declared the property to be entirely residential.

A year after buying Woodlands, Lazardis found himself with a bill for £1.2 million.

Despite an appeal, a tax court has now ruled that he was eligible for the full amount because the fields were not “actively and substantially operated on a regular basis” to make a commercial operation.

Joseph Adunse, tax partner at accountancy firm Moore Kingston Smith, told The Times that HMRC had previously challenged landlords who were “taking their chances”.

“But in this case, a large amount of land was involved, some of which was undoubtedly cultivated, and on the face of it the court’s decision seems unfair.”

A government spokesperson said: “We welcome this decision, which confirms our position that the land purchased forms part of the garden and grounds of the property and is in line with HMRC guidance on the subject.”

Mike Lazardis, 63, was hailed as a cutting-edge tech genius when his iconic Blackberry smartphone was launched in the early 2000s.

Mike Lazardis, 63, was hailed as a cutting-edge tech genius when his iconic Blackberry smartphone was launched in the early 2000s.

HMRC has previously imposed heavy stamp duty demands on landlords after purchasing properties.

In 2021, billionaire developers Christian and Nick Candy were fined almost £4 million for a single purchase after falling through a legal loophole.

Nick branded HMRC’s decision “grossly unfair” after the brothers were taxed twice over the purchase of a Georgian mansion in London.

Christian, 46, and Nick, 48, were both ordered to pay Stamp Duty Land Duty (SDLT) of £1.92million on the west London property.

They were victims of a law designed to prevent buyers from avoiding tax by transferring property mid-sale.

A court upheld the government’s decision after Christian began construction work on Gordon House despite not completing the purchase – triggering a rule that the purchase was “substantially completed”.

This meant that when he decided not to move in and handed it over to his brother – who completed the purchase – he still had to pay stamp duty.

His brother, being the one who made the sale, then had to pay as well.

When Christian attempted to claim a refund because he had never personally finalized the property, he was told he had transferred the property six months too late.

A Higher Tax Court judgment ruled that under HMRC rules he had just 12 months to transfer the property without being liable for stamp duty.

Christian took 18 months to transfer the property – during which time he began elaborate building works, including a 60ft swimming pool and cinema, and paid £27.4million.