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Monday
Jul122010

Lord Laidlaw Hangs on to Non Dom Status – but Gives up Seat in the House of Lords

The news has been full of comments and stories about various people having non dom status recently.  This started well before the election and it would appear that it is now set to continue as well, judging by the latest story involving Lord Laidlaw.

He is a Conservative peer who has donated vast amounts to the Conservative party in the past.  But he has now found himself in a position where he must choose between his peerage and his non dom status – and it would appear that his non dom status is worth more to him than the peerage.

He takes the position of being the first peer to relinquish his seat for this reason.  I am intrigued to see whether any other peers will do the same, as this is a firm message from Lord Laidlaw that he wishes to pay as little in UK tax as possible.

The issue of non doms is an ongoing one that every political party has its beliefs on.  But now we have a coalition government it is uncertain as to how the future looks for those who fall into the non dom bracket.  The election campaign saw an ultimatum given to those sitting in the House of Lords, where the choice was given as staying in the House and paying the taxes, or leaving.

While Lord Laidlaw – now not a Lord any more – has made his decision, I wonder which direction other peers will go in.

If you wish to discuss any matters concerning non dom status as it affects you, please contact us here at St Matthew.

 



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