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Wednesday
Sep012010

Fifth Member of House of Lords Steps Down to Keep Non Dom Status

I have read lots of news stories concerning the non dom situation recently, with the bulk of them concentrating on the decision nom dom Lords have to make on whether to relinquish their status or their title in the House of Lords.

Norman Foster, the 75 year old architect, has decided he would rather keep his tax status intact than his seat in the House of Lords.  It may eventually mean he has to give up his right to the title of Lord as well, but it remains to be seen if or when this actually happens.

Mr Foster is the latest figure in the House of Lords to have to make the decision because of new laws that prohibit anyone in the House to be there if they are non domiciled in the UK.

I think this is a matter that finally seems to be coming to a head in the grand scheme of things.  I will be watching closely to see how the new coalition government handles the non dom issue over the coming months.  Some people definitely see it as unfair that certain figures should get the benefit of the non dom status but still be able to sit in the House of Lords.  This new law will change that, as we can see by Mr Foster’s decision to give up his seat.

It is uncertain where things will lead to next.  But while we wait to see what happens, you may wish to get professional advice about your own tax status.  We can assist with these matters here at St Matthew, so please get in touch now should you wish to use our services.

 



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