Newsnight has just done an interesting piece on Sir Ronnie Cohen's tax status. The jist of it all is when put to him - are you non UK tax Domiciled he could not answer.
Well having spoken to a tax accountant to be non-uk tax domiciled, Ronnie would first have to be born abroad (in this case Egypt) and continue to have the intention to live abroad at some stage (i.e retire and die abroad).
[The alternatives including claiming to have aquired a Domicile in Israel seem even less credible as the man lives in London.]
Now under self assesment it is up to him to claim this but if he is claiming that he intends to retire to Egypt he should definitly be investigated!
The HMRC explanation is called IR20 and makes interesting reading.
If he is claiming to be non UK Domiciled where is he Domiciled? Israel, Egypt? Hampstead?
Add this to the tax relief he gets from chanelling his remaining income into his private charities and no wonder he is such a pall of the Chancellor!
N.B domicile is not to be confused with residency, Non UK Doms pay no tax on non UK income, very useful if you happened to run a large Vulchure fund with operations in Bermuda.
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