Menu
02/03/2010
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. He ended years of speculation surrounding his tax status yesterday by declaring he was 'non-domicile'.
This means the peer - a major Tory donor, who is reportedly worth a billion pounds - pays some tax on his UK earners but nothing on his foreign interests.
Lib Dem Shadow Home Secretary, Chris Huhne said: "Anyone who wants to pass laws in this country should pay this country’s full taxes and not hide behind the special offshore status of non-doms.
"Non-doms have to tell the taxman that their first allegiance is to another country. No-one should be a British lawmaker whose first allegiance is not to Britain.
"On even the most conservative estimates, Lord Ashcroft has avoided vast amounts of British tax by deploying the non-dom tax dodge. If he challenges our estimate of how much tax he has dodged, then there is a simple solution: publish the figure."
Conservative leader David Cameron would still not be drawn today on how long he knew about Lord Ashcroft's tax status.
He welcomed the peer's disclosure, but said he always regarded it as a private mater between Lord Ashcroft and HM Revenue and Customs.
The author and philanthropist has said he would back a law which would require anyone sitting in the legislature – Lords or Commons – to 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," said Lord Ashcroft.
(PR/GK)
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. He ended years of speculation surrounding his tax status yesterday by declaring he was 'non-domicile'.
This means the peer - a major Tory donor, who is reportedly worth a billion pounds - pays some tax on his UK earners but nothing on his foreign interests.
Lib Dem Shadow Home Secretary, Chris Huhne said: "Anyone who wants to pass laws in this country should pay this country’s full taxes and not hide behind the special offshore status of non-doms.
"Non-doms have to tell the taxman that their first allegiance is to another country. No-one should be a British lawmaker whose first allegiance is not to Britain.
"On even the most conservative estimates, Lord Ashcroft has avoided vast amounts of British tax by deploying the non-dom tax dodge. If he challenges our estimate of how much tax he has dodged, then there is a simple solution: publish the figure."
Conservative leader David Cameron would still not be drawn today on how long he knew about Lord Ashcroft's tax status.
He welcomed the peer's disclosure, but said he always regarded it as a private mater between Lord Ashcroft and HM Revenue and Customs.
The author and philanthropist has said he would back a law which would require anyone sitting in the legislature – Lords or Commons – to 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," said Lord Ashcroft.
(PR/GK)
Related UK National News Stories
Click here for the latest headlines.
01 March 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".
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".
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.
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.
25 April 2005
Conservatives and Lib Dems focus on business
The Conservatives and Liberal Democrats have focused their election pledges today on helping British businesses. The Conservatives have unveiled a ten-point action plan, which they claim will help “bolster” British businesses.
Conservatives and Lib Dems focus on business
The Conservatives and Liberal Democrats have focused their election pledges today on helping British businesses. The Conservatives have unveiled a ten-point action plan, which they claim will help “bolster” British businesses.
05 February 2010
Four Charged Over Expenses
Three MPs and one lord are to face criminal charges over their parliamentary expenses, it was confirmed today. Labour parliamentarians Elliot Morley, Jim Devine and David Chaytor will face charges under the Theft Act, as will Tory peer Lord Hanningfield.
Four Charged Over Expenses
Three MPs and one lord are to face criminal charges over their parliamentary expenses, it was confirmed today. Labour parliamentarians Elliot Morley, Jim Devine and David Chaytor will face charges under the Theft Act, as will Tory peer Lord Hanningfield.
-
Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
