Will our discovery blow the Canvey Island tax avoidance economy wide open?

In the wake of the ‘Panama Papers’ scandal, Southend News Network can EXCLUSIVELY reveal that a group of 48 well-known MPs, actors and footballers have all been named in leaked documents that relate to a recently-discovered ‘offshore tax avoidance vehicle’ that has been operating on Canvey Island since 2009. As we have now passed these documents over to the relevant authorities, we are not currently in a position to publicly identify these individuals, but for the very first time we can expose the activities of IUSL Investments (Island Under Sea Level) – it is estimated that more than £14bn of funds are currently managed by this company.

Formed in 2009 by prominent island businessman Kelvin Peninsulari, IUSL Investments promotes a number of different ‘tax avoidance vehicles,’ and their rarely-seen marketing documents state that they are able to manage clients’ funds in a manner that takes advantage of the fact that Canvey Island is ‘roughly 70% offshore,’ with a significant portion of the island’s boundary attached to the rest of the South Essex mainland. According to their marketing text, they are taking advantage of undisclosed loopholes in HMRC legislation that relates to ‘almost-offshore trusts,’ along with the fact that the financial regulators and the majority of the United Kingdom’s population have never heard of Canvey Island. A spokesperson for HMRC has confirmed to Southend News Network that these documents will be investigated as a matter of urgency, and as a precaution a memo has been sent to all banks on the island to give 48 hours notice that all links to USL Investments must be officially declared.

When our investigative team looked deeper into the 14,000 pages of material that were passed to us by an anonymous Canvey resident, we were able to spot where most of the £14bn has been invested within the Canvey economy – a number of businesses have been established specifically for IUSL Investments activity, with holding accounts set up for huge sums of money that can be classed as ‘resting.’ Our investigators were able to spot 132 ‘ghost’ fish and chip shops without any physical premises, along with an underground military-grade vault containing billions of pounds’ worth of gold bullion, and the main task for any enquiry will now be to establish if any criminal wrongdoing has taken place.

As far as the island’s current residents are concerned, the most worrying development could be that a third road route to the Island has been postponed indefinitely to ensure that traffic levels are kept to a ‘disruptive’ level. According to an email that was sent by Mr Peninsulari to a prospective client, he has actively discouraged a new transport link to the island so that financial investigators and officials are ‘put off’ taking a trip to Canvey to see what is genuinely going on. A further allegation has also been made that accuses the island’s government of paying geologists to act as part of a cover-up by stating that a third bridge to the island would make Canvey tip over.


  1. I’m going to move my account to Barclay’s bnank in Canvey Island’s High Street so I can benefit from an off-shore account!