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09/03/2010
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.
Lord Paul, like Ashcroft, pays some taxes on his UK earning, but does not pay anything on his international business interests.
The billionaire steel magnate was born in the Punjab region of Pakistan and had served as a deputy Speaker in the Upper chamber.
He stood down following accusations over his expenses claims.
Today police said no proceedings would be taken against Lord Paul.
The reviewed Constitutional Reform and Governance Bill, which has cross-party support, stipulates that no one with 'non-dom' status can sit in the Houses of Parliament.
Lord Paul, speaking to the New Statesman, said: "On the issue of taxation position of peers, of course it goes without saying that I'll be fully complying with the change of law which the government is bringing forward.
"I strongly support the government proposals in relation to the taxation status of peers and MPs and the membership of the House of Lords and the House of Commons."
He later told the Press Association: "I will be paying all the taxes. I will be qualifying to be in the House of Lords."
Lord Paul was raised to the peerage in 1996 and made a member of the Queen's Privy Council last year.
Unlike Lord Ashcroft, Paul has always been open about his tax status.
Tory Ashcroft dodged questions over his tax contributions for ten years until coming clean about his 'non-dom' arrangement last week.
(PR/GK)
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.
Lord Paul, like Ashcroft, pays some taxes on his UK earning, but does not pay anything on his international business interests.
The billionaire steel magnate was born in the Punjab region of Pakistan and had served as a deputy Speaker in the Upper chamber.
He stood down following accusations over his expenses claims.
Today police said no proceedings would be taken against Lord Paul.
The reviewed Constitutional Reform and Governance Bill, which has cross-party support, stipulates that no one with 'non-dom' status can sit in the Houses of Parliament.
Lord Paul, speaking to the New Statesman, said: "On the issue of taxation position of peers, of course it goes without saying that I'll be fully complying with the change of law which the government is bringing forward.
"I strongly support the government proposals in relation to the taxation status of peers and MPs and the membership of the House of Lords and the House of Commons."
He later told the Press Association: "I will be paying all the taxes. I will be qualifying to be in the House of Lords."
Lord Paul was raised to the peerage in 1996 and made a member of the Queen's Privy Council last year.
Unlike Lord Ashcroft, Paul has always been open about his tax status.
Tory Ashcroft dodged questions over his tax contributions for ten years until coming clean about his 'non-dom' arrangement last week.
(PR/GK)
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