Ruth Alexander
speaker
4,250 appearances
120 recordings
1 series
first heard Jan 2011
last heard Aug 2018
Ruth Alexander’s voice in public audio — every appearance, attributed to the second.
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Appearances
You can have a really clever accountant arranging your finances.
So, you know, you're just paying not very much tax.
So if non-doms were abolished, many of these people would be getting their accountants to think of new cunning ideas to shield their money from the taxman.
I mean, people worry they'd leave the country, but they wouldn't have to.
They could just make sure that they're in the UK for less than 90 days a year.
Or their spouse could be the one to go and live abroad in Monaco with a sizable share portfolio.
It's also worth thinking about how much non-DOMs contribute to the exchequer because they do still pay tax on their UK income.
In the tax year 2012-13, non-DOMs counted for 0.4% of income taxpayers.
They paid about £6 billion.
But they paid 4% of all income tax.
So that sounds like they're more than pulling their weight.
However, when you consider that the top 1% of all income taxpayers in the UK...
pay a whopping 27% of all income tax take, then you see that the non-dom tax take isn't actually that impressive.
And the levy they pay, only 5,000 of them pay that at the moment.
It only adds up to a couple of hundred million pounds a year, so that's not much in the grand scheme of things.
Well, I'm sorry to be annoying, but that's kind of unknowable as well.
It's interesting, though.
But just because someone's a rich non-dom, it doesn't mean they're investing in the country, unless you count having a really big house in London as being an investment.
I suppose it is in one sense, but one the country can probably do without.
Non-doms who have successful profit-making businesses in the UK will probably want to keep them going.
Showing 581–600 of 4,250 · page 30 of 213
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