Menu
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)
Related UK National News Stories
Click here for the latest headlines.
02 March 2010
Ashcroft 'Saved' £127m In UK Taxes
Liberal Democrats have accused 'non-dom' Tory peer Lord Ashcroft of saving more than £127m in British tax since he became a member of the House of Lords. Lib Dem researchers said Lord Ashcroft’s annual tax saving is conservatively estimated to be £12.76m. The deputy Conservative Party chair has been a member of the House of Lords for a decade.
Ashcroft 'Saved' £127m In UK Taxes
Liberal Democrats have accused 'non-dom' Tory peer Lord Ashcroft of saving more than £127m in British tax since he became a member of the House of Lords. Lib Dem researchers said Lord Ashcroft’s annual tax saving is conservatively estimated to be £12.76m. The deputy Conservative Party chair has been a member of the House of Lords for a decade.
09 March 2010
Labour Lord To 'Give Up' Non-Dom Status
Lord Paul - a top Labour donor - will renounce his non domicile tax status in April, he said today. The peer said his 'non-dom' UK residency will end in the new tax year. The move follows revelations over billionaire Tory deputy chair Lord Ashcroft.
Labour Lord To 'Give Up' Non-Dom Status
Lord Paul - a top Labour donor - will renounce his non domicile tax status in April, he said today. The peer said his 'non-dom' UK residency will end in the new tax year. The move follows revelations over billionaire Tory deputy chair Lord Ashcroft.
04 March 2010
Hague Faces Ashcroft Tax Questions
William Hague only became aware of Tory peer Lord Ashcroft's tax status in the "last few months", he revealed today. Billionaire Lord Ashcroft agreed with Mr Hague, the former Conservative leader, that he would take up "permanent" UK residency after accepting a peerage.
Hague Faces Ashcroft Tax Questions
William Hague only became aware of Tory peer Lord Ashcroft's tax status in the "last few months", he revealed today. Billionaire Lord Ashcroft agreed with Mr Hague, the former Conservative leader, that he would take up "permanent" UK residency after accepting a peerage.
21 October 2005
Britain celebrates Trafalgar bicentenary
Britain is marking the 200th anniversary of the Battle of Trafalgar with a series of events across the country. More than 6,000 events are planned to take place throughout the UK over the weekend, to mark the Royal Navy victory over the combined Spanish and France fleets on October 21, 1805.
Britain celebrates Trafalgar bicentenary
Britain is marking the 200th anniversary of the Battle of Trafalgar with a series of events across the country. More than 6,000 events are planned to take place throughout the UK over the weekend, to mark the Royal Navy victory over the combined Spanish and France fleets on October 21, 1805.
30 November 2010
Corporation Tax Reform To Create 'Competition'
The Government has published details of its Corporate Tax Reform programme consisting of a series of essential reforms designed to improve the UK's tax competitiveness. Measures include the introduction of new Controlled Foreign Company (CFC) rules and a commitment to introduce a Patent Box.
Corporation Tax Reform To Create 'Competition'
The Government has published details of its Corporate Tax Reform programme consisting of a series of essential reforms designed to improve the UK's tax competitiveness. Measures include the introduction of new Controlled Foreign Company (CFC) rules and a commitment to introduce a Patent Box.
-
Northern Ireland WeatherThis Evening and Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Perhaps a touch of ground frost. Cloud will spread east towards morning. Minimum temperature 2 °C.
