FactCheck’s article on non-doms got a mention in the Lords this afternoon.
Last week, we looked at Conservative plans for a flat rate levy on non-doms, raising £1.8bn in the process.
Lord Oakeshott, picked up on our verdict saying: “Does the Minister agree with Cathy Newman’s first class FactCheck analysis on Channel 4, that there are “clouds of uncertainty” about how much money a non-dom tax would raise?”
The Liberal democrat peer went on to give a more radical plan for wealthy individuals with links abroad who live in Britain but do not have to pay UK tax on their foreign earnings.
“Why not charge every non-dom who has lived here for seven years full british tax?” Lord Oakeshott concluded with a quip: ” If you are in the club, why shouldn’t you pay the sub?”
Lord Myners, the City Minister, dismissed Oakeshott’s plan saying: “There are real advantages of allowing the status (of non-doms) to continue to exist. We have no current plans, in this Parliament or the next, to revisit the remittence basis of taxation.”