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01/03/2010
Tory Admits Donor 'Non-Dom' Tax Status
Tory peer Lord Ashcroft has admitted he has "non-domiciled" tax status in the UK.
The Conservative donor and deputy party chairman's financial arrangements have been the subject of speculation for some time.
Lord Ashcroft said he backed Tory leader David Cameron's call for all peers to be "resident and domiciled".
His commitment to the House of Lords suggests he would support a change to the law.
In a statement released today, Lord Ashcroft said: "While the non-dom status will continue for many people in business or public life, David Cameron has said that anyone sitting in the legislature – Lords or Commons – must be treated as resident and domiciled in the UK for tax purposes.
"I agree with this change and expect to be sitting in the House of Lords for many years to come."
A "non-dom" is someone who is resides in the UK but does not get fully taxed on their overseas business interests.
In 2000 Lord Ashcroft wrote to William Hague prior to being granted a peerage.
He told Mr Hague he was prepared to "take up permanent residence in the UK again" by the end of that year.
"The other commitment in the memorandum was to resign as Belize’s permanent representative to the UN, which I did a week later," Lord Ashcroft said.
He said it was later agreed the meaning of "permanent residence" was to be that of "a long term resident" of the UK.
"I agreed to this and finally took up my seat in the House of Lords in October 2000.
"Throughout the last ten years, I have been declaring all my UK income to HM Revenue," said the Tory peer.
"My precise tax status therefore is that of a 'non-dom'".
Mr Cameron has welcomed Lord Ashcroft's statement. The peer had previously insisted his tax status was a private mater.
Two of Labour's largest donors, Lord Paul and Sir Ronald Cohen, both long-term residents of the UK, are also "non-doms".
(PR/BMcC)
The Conservative donor and deputy party chairman's financial arrangements have been the subject of speculation for some time.
Lord Ashcroft said he backed Tory leader David Cameron's call for all peers to be "resident and domiciled".
His commitment to the House of Lords suggests he would support a change to the law.
In a statement released today, Lord Ashcroft said: "While the non-dom status will continue for many people in business or public life, David Cameron has said that anyone sitting in the legislature – Lords or Commons – must be treated as resident and domiciled in the UK for tax purposes.
"I agree with this change and expect to be sitting in the House of Lords for many years to come."
A "non-dom" is someone who is resides in the UK but does not get fully taxed on their overseas business interests.
In 2000 Lord Ashcroft wrote to William Hague prior to being granted a peerage.
He told Mr Hague he was prepared to "take up permanent residence in the UK again" by the end of that year.
"The other commitment in the memorandum was to resign as Belize’s permanent representative to the UN, which I did a week later," Lord Ashcroft said.
He said it was later agreed the meaning of "permanent residence" was to be that of "a long term resident" of the UK.
"I agreed to this and finally took up my seat in the House of Lords in October 2000.
"Throughout the last ten years, I have been declaring all my UK income to HM Revenue," said the Tory peer.
"My precise tax status therefore is that of a 'non-dom'".
Mr Cameron has welcomed Lord Ashcroft's statement. The peer had previously insisted his tax status was a private mater.
Two of Labour's largest donors, Lord Paul and Sir Ronald Cohen, both long-term residents of the UK, are also "non-doms".
(PR/BMcC)
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