Wednesday, 7 July 2010

Decision day for Lord Ashcroft

Today is the day that Lord Ashcroft, the Tory donor-in-chief, must decide whether or not to give up his non-dom status.

Three months ago, members of the House of Lords were given today's deadline to get their tax affairs in order or relinquish their seats in the House of Lords. So far, four peers have decided that they value their tax free status more. These include Lord Laidlaw and Lord McAlpine - who announced their plan to leave the Lords a while ago - and Lord Bagri and Baroness Dunn who have revealed their decision to quit in the last few days.

At the time of the general election, Lord Ashcroft said that he would be giving up his non-dom status and paying full UK tax. But his spokesman has apparently been giving mixed messages in recent years and so today will be decision day.

Regrettably, the peers who do decide to keep their non-dom status will still be allowed to keep their titles for life, although they will no longer be able to sit or vote in debates.

No comments: