Super rich tax dodging non-doms biggest party donors

[lilelvis2000]

Wow, you sound like a financial genius.

The non-doms have a simpler means. Tick one box on your tax return (I am a non-dom) and stop paying tax. Beat that.

Ask a silly question.....you know the rest.

[meridian]

Unless you are domiciled here. Where upon ALL income, UK or worldwide is taxable.

So I assume you don't live in the UK at all?

Do keep up, the thread's about non-domiciles. Sheesh!





And no, I don't live in the UK

[beaker]

I think it's more like you set up an overseas trust to own the house. Similar to your solution but without the jail time. Thanks anyway.

I believe you'll need to raise an offshore loan through your offshore trust, which could be an interesting exercise. And take into account any interest rate movements. But non-doms are too rich for mortgages anyway

Some countries (eg Oz) stop considering you a tax resident after 2 years away, so you can send everything offshore and pay no tax on it if you select the right assets...

[DimPrawn]

It's simpler than that - don't have any taxable income in the UK in the first place, then you won't need to furnish a return at all!!

Unless you are domiciled here. Where upon ALL income, UK or worldwide is taxable.

So I assume you don't live in the UK at all?

[meridian]

It's simpler than that - don't have any taxable income in the UK in the first place, then you won't need to furnish a return at all!!

[DimPrawn]

ahhh. One way to do it is to have the seller agree on a sale £1 less than the threshold...and you mortgage that amount. then you give the remainder of the "sale price" in cash to the seller. But this only works when you have a lot of cash on hand.

Wow, you sound like a financial genius.

The non-doms have a simpler means. Tick one box on your tax return (I am a non-dom) and stop paying tax. Beat that.

[hugebrain]

ahhh. One way to do it is to have the seller agree on a sale £1 less than the threshold...and you mortgage that amount. then you give the remainder of the "sale price" in cash to the seller. But this only works when you have a lot of cash on hand.

I think it's more like you set up an overseas trust to own the house. Similar to your solution but without the jail time. Thanks anyway.

[lilelvis2000]

ahhh. One way to do it is to have the seller agree on a sale £1 less than the threshold...and you mortgage that amount. then you give the remainder of the "sale price" in cash to the seller. But this only works when you have a lot of cash on hand.

[hugebrain]

http://money.guardian.co.uk/tax/inco...186155,00.html

Do you support the non-doms? Should those living here have to pay some tax, or do you think "good on em, I wish I could legally avoid tax."

I support them. Good on 'em.

It's a bit of a misnomer really there's no such thing as a non-dom, only a somewhere-else dom. So the somewhere-else would just tax the contracting income instead.

Funny commie newspaper complaining the "rocketing" number of non-doms is caused by greedy tax dodgers and nothing to do with Labour opening the immigration floodgates. Could it be possible that there are more non-doms because more people in Britain from overseas? doh.

I am interested in buying a house without paying stamp duty though, so I'd be grateful if someone can post details of that.

[alreadypacked]

Great idea! Is the Isle of Man the best place to do this?

Super, super, super rich maybe. I didn't qualify

[lilelvis2000]

Great idea! Is the Isle of Man the best place to do this?

[alreadypacked]

[DimPrawn]

http://money.guardian.co.uk/tax/inco...186155,00.html

Do you support the non-doms? Should those living here have to pay some tax, or do you think "good on em, I wish I could legally avoid tax."

Anyone here a registered non-dom that avoids tax on their contracting income be using an offshore company for invoicing UK clients?