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Labour peer to end non-dom status | Labour peer to end non-dom status |
(30 minutes later) | |
Labour peer and donor Lord Paul will end his controversial "non-dom" status from the next tax year, he has said. | Labour peer and donor Lord Paul will end his controversial "non-dom" status from the next tax year, he has said. |
The billionaire steel magnate said he would pay UK tax on his overseas earnings to comply with new laws being introduced by the government. | The billionaire steel magnate said he would pay UK tax on his overseas earnings to comply with new laws being introduced by the government. |
The police have said they will not be investigating his expenses, he said. | |
The Tories have repeatedly highlighted Lord Paul's tax status in response to criticism of their deputy chairman Lord Ashcroft's non-dom status. | The Tories have repeatedly highlighted Lord Paul's tax status in response to criticism of their deputy chairman Lord Ashcroft's non-dom status. |
A measure to ban non-doms - who do not pay UK tax on overseas earnings - from sitting in Parliament was inserted into the Constitutional Reform and Governance Bill with cross-party support. | A measure to ban non-doms - who do not pay UK tax on overseas earnings - from sitting in Parliament was inserted into the Constitutional Reform and Governance Bill with cross-party support. |
'Will be qualifying' | 'Will be qualifying' |
The New Statesman reports Lord Paul as saying: "On the issue of taxation position of peers, of course it goes without saying that I'll be fully complying with the change of law which the government is bringing forward. | The New Statesman reports Lord Paul as saying: "On the issue of taxation position of peers, of course it goes without saying that I'll be fully complying with the change of law which the government is bringing forward. |
"I strongly support the government proposals in relation to the taxation status of peers and MPs and the membership of the House of Lords and the House of Commons." | "I strongly support the government proposals in relation to the taxation status of peers and MPs and the membership of the House of Lords and the House of Commons." |
He later told the Press Association: "I will be paying all the taxes. I will be qualifying to be in the House of Lords." | He later told the Press Association: "I will be paying all the taxes. I will be qualifying to be in the House of Lords." |
Indian-born steel magnate Lord Paul was ennobled in 1996 and appointed to the Privy Council last year. | Indian-born steel magnate Lord Paul was ennobled in 1996 and appointed to the Privy Council last year. |
Scotland Yard began examining his expenses at the end of last year, following allegations that he had nominated an Oxfordshire flat he had never stayed in as his main home, allowing him to claim tens of thousands of pounds for his London property. | Scotland Yard began examining his expenses at the end of last year, following allegations that he had nominated an Oxfordshire flat he had never stayed in as his main home, allowing him to claim tens of thousands of pounds for his London property. |
Lord Paul said the Metropolitan Police had told him he would not face any further action over allegations that he abused parliamentary expenses. | Lord Paul said the Metropolitan Police had told him he would not face any further action over allegations that he abused parliamentary expenses. |
Last week, Conservative deputy chairman and major donor Lord Ashcroft revealed that he had remained a non-dom, despite pledging to become a "permanent resident" when he was awarded a peerage 10 years ago. | |
Lord Paul, who was recently made a privy councillor, has insisted it was "ridiculous" to compare his situation because he has always been open about his tax status. | Lord Paul, who was recently made a privy councillor, has insisted it was "ridiculous" to compare his situation because he has always been open about his tax status. |