https://www.theguardian.com/news/2022/apr/25/rachel-reeves-promises-labour-will- Of course they will!!!! https://www.theguardian.com/business/2015/apr/08/milibands-abolition-many-have-t "But the numbers declaring themselves non-domicile UK residents did not dwindle under Tony Blair’s prime ministership — they increased. There were 67,600 non-doms when Labour came to power in 1997, and 137,000 a decade later. At the same time, non-dom entrepreneurs like Lakshmi Mittal and Richard Caring were donating millions to Labour. Mittal wrote two separate £2m cheques to the party in 2005 and 2007, giving over £5m in total before 2010. Efforts to reform the system were stymied. In 2008, with Alistair Darling as chancellor, Labour passed legislation which simply introduced a new set of loopholes. Non-doms could stay in the UK for up to seven years with all the benefits — tax-free offshore income and capital gains, no inheritance tax, and, for many, no obligation to pay tax on offshore assets in their country of origin either. Those who stayed longer than seven years would either pay tax on worldwide income like any ordinary UK citizen, or pay an annual fee and retain all their offshore protection. Today that fee stands at £30,000-£90,000, depending on how long the individual has resided in the UK. That is a high a price to pay for ordinary earners, but small change to a billionaire with hundreds of millions to lose in tax. “For those people, the annual fee is a weekend’s pocket money on a trip to Monaco,” says Christensen. |  |