| Chancellor's non-dom wife 10:57 - Apr 7 with 3468 views | britferry |
Lives in No. 11 Downing Street, earned £11.6m in dividends on her Inidian business interests, paid zero tax in the UK on it.
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| Chancellor's non-dom wife on 11:04 - Apr 7 with 1911 views | britferry |
found this on non-dom
Much has changed in the world since William Pitt the Younger was prime minister and the United Kingdom was at war with Napoleon. But among the tax rules laid down by Her Majesty’s Revenue and Customs there remains a fiscal echo of those vanished days.
The “non-domicile” regime was originally introduced in 1799 to shelter those with foreign property from the UK’s newfangled wartime taxes. More than two centuries later, it still allows those who live in Britain to cite another country as their real domicile. Unlike other residents, they are only obliged to pay British tax on their overseas earnings if they remit that money to the UK.
In bygone days, when many subjects resided in colonies overseas, this may have had some slender justification. In modern Britain, it has none.
The rule is exploited by jet-setters and wealthy business executives to pick and choose the least fiscally burdensome domicile while continuing to enjoy the right to reside and work in Britain. Their numbers have been rising: from 83,000 in 1997 to 116,000 in 2013. Some, such as foreigners temporarily resident in Britain for work, may have a case for doing so. Far more dubious are cases where the individual is a long-term UK resident, or a British citizen who has elected – either through inheritance or from choice – to domicile themselves in a low-tax country.
This anomaly has been highlighted in recent days by the case of HSBC’s chief executive, Stuart Gulliver. While a British citizen born and raised in the UK, Mr Gulliver badged himself as domiciled in the low-tax haven of Hong Kong. Yet not only has Mr Gulliver worked in Britain for the past 12 years, he has also retained links with the UK, for instance sending his children to school there. Whether or not the arcane rules have been obeyed, this hardly counts as severing all ties.
It is hard to know how much the Treasury is losing out. There are no reliable figures for tax foregone. But the inherent unfairness of allowing the richest in society to avoid paying their fair share of tax has become a matter of fierce public irritation.
Tolerance was fraying even before the financial crisis. The Treasury looked at abolishing non-dom status on several occasions. But each time it drew back for fear of the consequences for Britain’s economy and the City of London in particular. These fears, however, are overdone.
Those who defend the status quo argue it promotes inward investment because wealthy non-doms build up assets in the UK simply by being here. Were it scrapped, they say, these individuals would leave, taking their enterprise and what UK tax they pay.
But in reality non-doms have few incentives to engage in UK activity. The chancellor George Osborne may have introduced measures to encourage them to remit from abroad to invest. But for the most part bringing offshore cash into Britain simply ensures that it will be taxed at UK rates.
As for the idea that abolition will trigger a flood of non-doms seeking sanctuary in Switzerland, some footloose individuals may leave. But the many advantages of London as a financial centre do not dissolve simply because of a change in a hitherto generous tax treatment of resident non domiciles. Low-tax cantons cannot match the City’s deep pool of financial expertise or the excitement of London life.
Both main political parties have recognised the indefensibility of the regime. But rather than abolish it, they have sought to raise its cost. Annual charges of £30,000 are levied on people who have been in the UK for more than seven years, rising to £50,000 (soon to be £60,000) for those with over 12 years’ residence. But while these have cut the take-up, they have not dealt with the intrinsic unfairness.
Britain should sweep away the archaism that allows people to claim a domicile that differs from nationality or residence. Few other civilised countries feel the need to offer such privileges to the wealthy. Liability to taxation should be solely based on residence. There can still be a grace period for foreign nationals posted temporarily to the UK before they are obliged to pay British tax.
More than two centuries after the introduction of income tax by Mr Pitt, his successors should end the egregious situation where the wealthiest enjoy the privileges of UK residency without paying their fair dues to the exchequer. The anomaly of non-dom status cannot be defended. It should be scrapped. [Post edited 7 Apr 2022 11:04]
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| Chancellor's non-dom wife on 12:07 - Apr 7 with 1871 views | KeithHaynes |
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| Chancellor's non-dom wife on 12:17 - Apr 7 with 1860 views | Lohengrin |
| Chancellor's non-dom wife on 12:07 - Apr 7 by KeithHaynes |
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On the face of it that is very similar to the situation, albeit with much less lucre involved, to the tens of thousands of Brits on the Costas? Does that sound about right? [Post edited 7 Apr 2022 12:22]
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| An idea isn't responsible for those who believe in it. |
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| Chancellor's non-dom wife on 12:43 - Apr 7 with 1845 views | builthjack |
| Chancellor's non-dom wife on 12:17 - Apr 7 by Lohengrin |
On the face of it that is very similar to the situation, albeit with much less lucre involved, to the tens of thousands of Brits on the Costas? Does that sound about right? [Post edited 7 Apr 2022 12:22]
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Doesn't she live in London? |  |
| Swansea Indepenent Poster Of The Year 2021. Dr P / Mart66 / Roathie / Parlay / E20/ Duffle was 2nd, but he is deluded and thinks in his little twisted brain that he won. Poor sod. We let him win this year, as he has cried for a whole year. His 14 usernames, bless his cotton socks.
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| Chancellor's non-dom wife on 12:56 - Apr 7 with 1834 views | trampie |
Disappointing behaviour by the chancellor and his wife, I assume they are a team unless marriage means something else these days so it reflects awful badly in my book on the chancellor himself. |  |
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| Chancellor's non-dom wife on 13:00 - Apr 7 with 1833 views | Lohengrin |
| Chancellor's non-dom wife on 12:43 - Apr 7 by builthjack |
Doesn't she live in London? |
She does, yes, but is her situation markedly different from friends of mine who live off pensions and investments based here but live in Spain? Aside from the scale of the dividends, obviously. | |
| An idea isn't responsible for those who believe in it. |
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| Chancellor's non-dom wife on 13:06 - Apr 7 with 1825 views | Lohengrin |
| Chancellor's non-dom wife on 12:56 - Apr 7 by trampie |
Disappointing behaviour by the chancellor and his wife, I assume they are a team unless marriage means something else these days so it reflects awful badly in my book on the chancellor himself. |
It does mean something else, a bride hasn’t been legally compelled to assume her husband’s nationality since the law changed in the mid-80s. Sunak’s wife is Indian, as is her income. | |
| An idea isn't responsible for those who believe in it. |
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| Chancellor's non-dom wife on 13:19 - Apr 7 with 1806 views | JACKMANANDBOY |
| Chancellor's non-dom wife on 13:06 - Apr 7 by Lohengrin |
It does mean something else, a bride hasn’t been legally compelled to assume her husband’s nationality since the law changed in the mid-80s. Sunak’s wife is Indian, as is her income. |
Politics apart, there's a logic that an Indian citizen who operates a company in Indian pays Indian taxes. Otherwise those who operate a UK business in the UK and live elsewhere would pay tax locally. [Post edited 7 Apr 2022 13:19]
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| Chancellor's non-dom wife on 13:21 - Apr 7 with 1794 views | trampie |
| Chancellor's non-dom wife on 13:06 - Apr 7 by Lohengrin |
It does mean something else, a bride hasn’t been legally compelled to assume her husband’s nationality since the law changed in the mid-80s. Sunak’s wife is Indian, as is her income. |
I'm referring to a husband and wife sharing their money and wealth not nationality. [Post edited 7 Apr 2022 13:33]
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| Chancellor's non-dom wife on 13:23 - Apr 7 with 1794 views | KeithHaynes |
| Chancellor's non-dom wife on 13:00 - Apr 7 by Lohengrin |
She does, yes, but is her situation markedly different from friends of mine who live off pensions and investments based here but live in Spain? Aside from the scale of the dividends, obviously. |
Some do that’s for sure LOH, in between appointments today and surprisingly at a solicitors and accountants the people you know may well be advised to seek out residency here and declare their taxes for income in the uk and here in Spain. A good friend of mine works in the hacienda in Cadiz which is the tax office of sorts. They have a huge file of brits they are popping off for failure to notify of income from abroad, all income earned by people living here has to be declared. They work out your threshold not the person declaring it. If not and it’s not a ‘maybe’ the hacienda put a 20k levy on your house when it is sold. Not even appealable.
It’s a very bold and brave person who isn’t a Spanish national since brexit to even try a little bit to circumnavigate the rules here. Just declare everything, get your accountant to write it up, generally it’s a very small payment. The tax rate here is 21% so most people just pay 1% of their earnings after the usual considerations as in the uk.
I would rather pay £300 in tax than spend the next two years with a 20k charge on my house fighting a prison sentence ( because that’s what can easily happen ) and removal of my residency status as a non national convicted criminal in Spain which will definitely result in being booted out of the country.
Some people like the danger, I knew a few last year who said the tax office would never investigate them because they were not earning that much under the counter. They have been fined 5k each, have levy’s on their houses and still now repay the last six years non declarations with 8% applied to the top figure every month. | |
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| Chancellor's non-dom wife on 13:39 - Apr 7 with 1757 views | Lohengrin |
| Chancellor's non-dom wife on 13:23 - Apr 7 by KeithHaynes |
Some do that’s for sure LOH, in between appointments today and surprisingly at a solicitors and accountants the people you know may well be advised to seek out residency here and declare their taxes for income in the uk and here in Spain. A good friend of mine works in the hacienda in Cadiz which is the tax office of sorts. They have a huge file of brits they are popping off for failure to notify of income from abroad, all income earned by people living here has to be declared. They work out your threshold not the person declaring it. If not and it’s not a ‘maybe’ the hacienda put a 20k levy on your house when it is sold. Not even appealable.
It’s a very bold and brave person who isn’t a Spanish national since brexit to even try a little bit to circumnavigate the rules here. Just declare everything, get your accountant to write it up, generally it’s a very small payment. The tax rate here is 21% so most people just pay 1% of their earnings after the usual considerations as in the uk.
I would rather pay £300 in tax than spend the next two years with a 20k charge on my house fighting a prison sentence ( because that’s what can easily happen ) and removal of my residency status as a non national convicted criminal in Spain which will definitely result in being booted out of the country.
Some people like the danger, I knew a few last year who said the tax office would never investigate them because they were not earning that much under the counter. They have been fined 5k each, have levy’s on their houses and still now repay the last six years non declarations with 8% applied to the top figure every month. |
They may well have gone down the route you describe by now, Keith? The last time I spoke to them they were over for a wedding and hadn’t the least intention of moving back.
On the specific question of Sunak, just listening to the wireless and it seems both The House and HMRC have confirmed that all necessary declarations of interest have been submitted and neither rules, nor laws are being broken.
Politics here has always been a dirty game and getting grimier by the decade. | |
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| Chancellor's non-dom wife on 16:48 - Apr 7 with 1683 views | trampie |
| Chancellor's non-dom wife on 13:42 - Apr 7 by Lohengrin |
Lenin’s dead, Tramp. If you feel the need to dictate domestic arrangements for couples I’m afraid you’ve missed the boat...  |
Sharing as in the husband earning coin and wife being a housewife yet the wife owning half the coin and property and they make join financial decisions, that kind of old fashioned sharing. | |
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| Chancellor's non-dom wife on 18:56 - Apr 7 with 1656 views | majorraglan |
All of a sudden Sunak is being subjected to increasing press scrutiny. I wonder if things are being leaked by some of his colleagues to undermine his position on account of him failing to support the PM re Partygate, the cost of living /inflation situation and perceived lack of assistance to people. Maybe the seeds of his demise are being sown! | | | |
| Chancellor's non-dom wife on 21:27 - Apr 7 with 1620 views | max936 |
| Chancellor's non-dom wife on 18:56 - Apr 7 by majorraglan |
All of a sudden Sunak is being subjected to increasing press scrutiny. I wonder if things are being leaked by some of his colleagues to undermine his position on account of him failing to support the PM re Partygate, the cost of living /inflation situation and perceived lack of assistance to people. Maybe the seeds of his demise are being sown! |
Are you suggesting a dirty game is in play, never been known in Politic's mun [ 
Its never been any different in reality as we all know and Politic's is viewed as a game to, by those with the wealth to play it, its by no way a game to us the Pawns who the shit falls on though, 99% of all politicians are in it for their own gains, they couldn't give a monkeys about the rest of us, just pay us lip service with feeding us a few crumbs every now and then. |  |
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| Chancellor's non-dom wife on 22:35 - Apr 7 with 1589 views | britferry |
| Chancellor's non-dom wife on 18:56 - Apr 7 by majorraglan |
All of a sudden Sunak is being subjected to increasing press scrutiny. I wonder if things are being leaked by some of his colleagues to undermine his position on account of him failing to support the PM re Partygate, the cost of living /inflation situation and perceived lack of assistance to people. Maybe the seeds of his demise are being sown! |
Of course it is, Boris sees him as his main rival | |
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| Chancellor's non-dom wife on 00:57 - Apr 8 with 1563 views | KeithHaynes |
| Chancellor's non-dom wife on 21:27 - Apr 7 by max936 |
Are you suggesting a dirty game is in play, never been known in Politic's mun [
Its never been any different in reality as we all know and Politic's is viewed as a game to, by those with the wealth to play it, its by no way a game to us the Pawns who the shit falls on though, 99% of all politicians are in it for their own gains, they couldn't give a monkeys about the rest of us, just pay us lip service with feeding us a few crumbs every now and then. |
Yes prime minister 👠| |
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| Chancellor's non-dom wife on 06:38 - Apr 8 with 1527 views | Lohengrin |
| Chancellor's non-dom wife on 16:48 - Apr 7 by trampie |
Sharing as in the husband earning coin and wife being a housewife yet the wife owning half the coin and property and they make join financial decisions, that kind of old fashioned sharing. |
Ha! this pair are multi, multi millionaires. Quite possibly billionaires? I don’t think they’ve taken a run at life from quite the same angle as you and I, Tramp.  | |
| An idea isn't responsible for those who believe in it. |
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| Chancellor's non-dom wife on 07:31 - Apr 8 with 1506 views | trampie |
| Chancellor's non-dom wife on 06:38 - Apr 8 by Lohengrin |
Ha! this pair are multi, multi millionaires. Quite possibly billionaires? I don’t think they’ve taken a run at life from quite the same angle as you and I, Tramp. |
Yes I know that, but if he is not party to his wife's financial affairs then they don't have an old fashioned typical financial arrangement, he should know her financial affairs - if not be part of decision making around his wife's financial affairs and therefore culpable in my book of financial gymnastics when he is the Chancellor of the Exchequer . | |
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| Chancellor's non-dom wife on 07:33 - Apr 8 with 1506 views | Dr_Winston |
| Chancellor's non-dom wife on 22:35 - Apr 7 by britferry |
Of course it is, Boris sees him as his main rival |
Which is ironic, as Ben Wallace seems to have topped most of the polls I've seen lately with Liz Truss not far behind.
Think Rishi's lost a bit of his lustre with the whole cost of living thing, even if it's not really his fault. It's a big issue globally at the moment. |  |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| Chancellor's non-dom wife on 08:18 - Apr 8 with 1497 views | felixstowe_jack |
Why should an Indian citizen who earned dividends from an Indian business not pay tax in India.
At least she pays taxes on the income she earns in the UK.
Unlike that British Formula one driver who lives in a tax haven. | |
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| Chancellor's non-dom wife on 08:20 - Apr 8 with 1496 views | felixstowe_jack |
| Chancellor's non-dom wife on 13:21 - Apr 7 by trampie |
I'm referring to a husband and wife sharing their money and wealth not nationality. [Post edited 7 Apr 2022 13:33]
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Under the equal opportunities act a women's earnings no longer belongs to her husband. We are in the 21st century it is her money. | |
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| Chancellor's non-dom wife on 08:27 - Apr 8 with 1491 views | Best_loser |
If it's true that Boris is behind a smear campaign against sunak then that means Boris doesn't intend going anywhere , that is the bigger story here |  | | |
| Chancellor's non-dom wife on 08:31 - Apr 8 with 1484 views | felixstowe_jack |
| Chancellor's non-dom wife on 08:27 - Apr 8 by Best_loser |
If it's true that Boris is behind a smear campaign against sunak then that means Boris doesn't intend going anywhere , that is the bigger story here |
Love the left attempts to first smear the chancellor then blame it on the Prime minister. They must have taken lessons from Putin . | |
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| Chancellor's non-dom wife on 08:43 - Apr 8 with 1477 views | JACKMANANDBOY |
At the heart of this is an Indian rule that you can not keep.your Indian citizenship if you choose to domicile elsewhere. | |
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