Labour Party furious with refusal to investigate Lord Ashcroft
The Labour Party has reacted with fury to confirmation that the House of Lords will not be investigating Conservative deputy chairman Lord Ashcroft's position in the House. This comes after the revelation that he is a non-domicile which means that he pays tax on his UK earnings but does not pay UK tax on his overseas earnings.
Lord Mandelson in particular is furious about the refusal to investigate Lord Ashcroft and in particular a condition on his appointment to the House of Lords in 2000 which many believe should have led to him becoming domiciled in the UK. There is some confusion as to the exact wording of the pre-condition but the fact of the matter is he is a non-domicile at this point in time. It is also worth remembering that he has broken no laws, he has no tax issues with the government and his UK tax affairs are very much in order. After initially looking as though this could have been a significant problem for the Conservative party it has also been revealed that Labour and the Liberal Democrats have also accepted political donations in the past from UK non-domiciles. This story will surely die a death very soon?
Share this..
Related stories
British holiday home owners in Spain win tax ruling
When Alan Roy and his wife Margaret decided to challenge the Spanish authorities with regard to the 35% tax deducted from the capital gain made on their holiday home, even they could not have guessed the repercussions of their action. After making a €10,000 profit on their property they were charged 35% capital gains tax by the Spanish government which deemed them to be non-resident, against...
Read MoreBusiness leaders question UK government's broadband tax
UK business leaders have today questioned the UK government's suggestion that a six pound telephone line tax should be brought in by the end of 2010, with the aim of party funding the investment required for a new UK national broadband network. However, in a move which will surprise many people, business leaders do not believe six pound per telephone line would be enough to raise the funds require...
Read MoreGovernment announce new emissions targets - with conditions!
News that the UK government had announced a new emissions target which would see the country reduce all emissions by 80% prior to 2050 received a standing ovation from the green sector, until they saw the small print!
In Ed Miliband's first speech to parliament in his new role as Secretary of State for Energy and Climate Change it was hoped that this would mark the start of a new ph...
William Hague dragged into Lord Ashcroft row
Former Tory leader William Hague has tonight been dragged into the Lord Ashcroft row amid suggestions that he has been aware of the deputy chairman's non-domicile situation for "a few months". There is also concern that at the time of Lord Ashcroft's peerage he gave assurances to William Hague which was interpreted as a willingness to become domiciled in the UK, hence liable to UK tax on worldwide...
Read MoreWhy are MPs expenses treated differently by the taxman?
The revelation that MPs are able to claim a second home allowance on a property which in the eyes of the taxman is their main residence has confused many across the UK. It is also worth noting that MPs expenses do not incur any tax charges and are in fact a tax-free "gravy train" which has mushroomed over the last few years. So why are MPs expenses treated differently by the taxman?
...