Tory donor under fire for non-dom tax status
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Conservative deputy chairman and party donor Lord Ashcroft has come under fire for using non-domicile status to save himself millions of pounds in tax.
The billionaire Lord reportedly struck the deal in a private negotiation with Government officials.
By being classed as a non-dom, Lord Ashcroft does not have to pay UK tax on overseas earnings.
In a letter disclosed on his website dating back to March 2000, Lord Aschroft wrote to then party leader William Hague, giving his “clear and unequivocal assurance” that he would become take up “permanent resident” status by the end of that calendar year.
However Lord Ashcroft says: “In subsequent dialogue with the Government, it was officially confirmed that the interpretation in the first undertaking of the words ’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.”
Lord Ashcroft’s revelation came ahead of the information being disclosed under the Freedom of Information Act.
Lord Ashcroft has reportedly donated over £4m to the party.
On his website Lord Ashcroft says: “If home is where the heart is then Belize is my home.”
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Readers' comments (4)
Derek Angry | 2 Mar 2010 2:05 pm
The only thing Tories are interested in is looking after the "Old Boys Network". David Cameron was too scared to do anything about this even though it was going on for 10 years. If you can't trust him to stop hypocrisy in his own party how can you trust him to run the government? Roll back to 28 November 1990 and all the in fighting in the party let to the iron lady being stabbed in the back. It has come to light that the party has been riddled with sleaze ever since. Less we forget John Majors affair with Edwina Curry, the strangle suspenders and oranges death that was Steven Milligan, the expenses scandals for duck island and moat cleaning. Why does it not surprise me that scandal and sleaze are still going on. Its so depressing, 1 main alternative and change to current government and I wouldn’t trust them to verify what colour orange was
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Daniel Teague | 2 Mar 2010 4:08 pm
This of what those tax £ could have been spent on. I blame the government for keeping this loopwhole open and blame the conservatives for not having the back bone to sort out our house. It makes me look like yet again I have to justify to my own concious my active support of my own party
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Hypo Crit | 2 Mar 2010 4:24 pm
the hypocrisy is astounding
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Anonymous | 2 Mar 2010 10:43 pm
OMG if normal voters pick up on this then there is no way we will win the election I have some overseas investment that i pay tax on but as soon as i can afford it i will be moving even if its just to IOM, It's so hard to get rich, now that i am it suck that a peer who should have left it well enough alone has ruined it for the rest of us
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