Ditching non-doms may lose the UK money - but it's the right thing to do
Ed Miliband is really getting into this whole 'man of the people' thing.
It’s 28 days until the General Election and Ed Miliband is really warming to his ‘standing up for the little guy’ theme. His latest plan? To get rid of the controversial non-dom tax status.
More than 110,000 UK residents are non-doms, meaning they can cite another country as their real domicile and will only pay tax on overseas earnings if they bring the money back here. Big cheese non-doms, who are usually born abroad or have a foreign father or grandfather (showing its 200-year-old age there), include Britain’s wealthiest man Lakshmi Mittal and Chelsea owner Roman Abramovich.
Daily Mail baron and lifelong Brit Jonathan Harmsworth (aka Viscount Rothermere) inherited the status, designed to shield colonial exporters from levies until their ships docked in Britain, from his Paris tax exile father and allegedly diverts his income through a Bermudan company.
