Tuesday, 3 March 2015

NON-DOMS, 123,000 UNDESIRABLE ALIENS

A debilitating plague of non-domiciled invaders. A peculiarly British problem.

Aliens adopt human form to
live among us, steal our jobs
and enslave us in debt.
Many major UK companies are now run by directors or executives who claim they are not full UK citizens. They are not domiciled here for tax purposes; but most were born here and live here - they are the infamous, traitorous, tax-free "non-doms" of no fixed abode. Some of the internationally important companies they run also purport to have their headquarters or profit centres offshore, in poxy little bent tax-havens like Luxembourg, some allegedly managed by local false-directors, on peanut salaries.

 They direct vast swathes of UK capital investment. Much of the capital they control is siphoned offshore, estimated to be £2 trillion (8 million good jobs), depleting and sabotaging the UK capital base. They direct our banks, The City, the media, and they lobby and influence our politicians. Their decisions affect millions of jobs and the daily lives of all 63 million UK citizens. 

 Non-Domiciled tax status is a spill over from 1799 (FT) and from the days of the British Empire "...on which the sun never sets" to accommodate a few rich Maharajahs, Kings, Emperors, Adventurers and Moguls, visiting London - not as a tax-evasion scheme for 123,000 UK Subjects. 

 What do they pay tax on? People resident in, say, London, but who are non-domiciled in the UK, pay tax only on income (not capital) that is either earned in London or is imported into London from other countries. Most non-doms therefore argue with HMRC that any money they import is "capital" not "income". e.g. If Count Alucard Pedro Gabrieli Von Vladmic has £300M capital, earning £30M a year in his estates in Transylvania (where he claims he wants to be buried) - and he transfers £10M to his permanent home in London, he will argue that he is bringing in un-taxable capital ("investing in the UK") not income, which would be taxed. If he was tax-resident in, say for example, New York, he would pay US tax on his £30M world income, say £10.5M. The UK charge him a non-dom fee of £30 to £90 thousand; 100 times less than any other OECD country would charge. Being a UK legal non-dom, does not rule out also indulging in criminal tax-evasion via tax-havens. 

 ******************************************************* UPDATE:  8th April 2015. 
Times are changing.
8 April 2015.

Here, in 18th Century England, we have a quaint tax rule to ensure that aristocrats, our superiors, do not pay tax. Its called “Non-Domicile” or Non-Dom. By claiming that your great-great-grandfather was born in Transylvania, or anywhere outside England, and that you intend to die and be buried in your family crypt in Transylvania; and as long as you are very, very rich, our considerate and kindly tax collectors will classify you as non-dom. And you pay no tax! Today, a wicked, evil, revolutionary socialist leader of the Labour Party vows to abolish non-dom status – and drag our aristocracy down into the plebeian gutter with the hoi-polloi, the great unwashed mass of diseased peasants. Is this the end of the British Empire, on which the sun never sets? Or is it the start of Fair Taxation?

**************
The Guardian Newspaper – 8 April 2015:
http://www.theguardian.com/politics/2015/apr/07/ed-miliband-non-dom-tax-status-labour

Ed Miliband will say 18th-century rule is morally wrong as it suggests ‘anything goes for those at the top’ – but he stops short of blaming non-doms directly
Ed Miliband will promise to end a colonial-era symbol of inequity in the tax system by announcing that, if he wins the election, he will abolish the non-domicile rule that allows many of Britain’s richest permanent residents to avoid paying tax in the UK on their worldwide income.
Labour will say the rule, introduced by William Pitt the Younger in the late 18th century, has been wide open to abuse and offends the moral basis of taxation. Everyone who has made the UK their permanent home should pay full UK tax on all their income and gains, he will argue.
**********************************************************

The largest companies, some now infested with non-dom, untaxed managers, have been built over several generations by British risk, sweat, innovation and troops; many people have died to create and protect our economic base. Most of these major companies draw their capital from the London Stock Exchange, their credibility from their UK roots, and rely on the nation's education system, health system, our global reputation, native talents and our legal system - and, in the case of banks, they boast of specific world-class licenses which UK taxpayers and insurers underwrite.

 The 2008/09 banking City of London £1.3 trillion collapse has saddled every UK household with £30,000 of debt - the equally infamous "government deficit" - which all our politicians cite as triggering the need for "austerity" - in turn creating unprecedented youth unemployment and suicides, while our hard earned capital and liquidity surplus sits frozen in tax-havens, such as the billions revealed in HSBC Zurich & Geneva and in The British Virgin Islands (130,00 secret accounts); which is a tiny part of the assets held in just 2 of the 74 global tax-havens. As Swiss accounts came under attack from the Lagarde List, the UK has given the 7,000 UK villains 8 years to remove the evidence - much of which is being funneled to the Middle-East. Presumably whistle-blowers there will have their hands, heads or other parts of their anatomies chopped off - and will then be flogged to death over the next year - to keep tax-evaders' secrets safe.

 The undemocratic, unaccountable non-doms, of course, don't have, or claim not to have, their households in the UK and don't pay UK taxes - so they don't share our ambitions for the nation, share our culture or share the oppressive weight of the national debts. When their time comes, they wave us goodbye with two fingers and retire to foreign lands.

 "...123,000 people told HMRC that they qualified for non-dom status in the year 2011-12, which the Financial Times reckons to be the largest number since the economy crashed in 2008, when it stood at around 137,000."

To convince the UK tax collectors of their non-dom status, these people, mostly UK born, bred, educated, raised and fed, have to claim a very strong emotional allegiance to a foreign country, such as Hong Kong in China, or a remote tax-haven, and demonstrate they have their real home there and want to be buried there.  Why should these aliens give a damn about the current or future state of this Sceptred Isle? They don't. They are intent in gouging out as much as they can and buggering off to their overseas, tax-haven, bejeweled,  cushioned dens - to die. 

Rockall welcomes all migrant sociopathic tax-evaders
- with a zero tax rate -
Can we trust them to run our companies for the nation's benefit? Perhaps we should ship them all out to tax-free Rockall - for Life!

I cannot here track down and list all 123,000 non-doms. But HMRC, The Treasury, Immigration and, we can confidently assume, GCHQ (the UK's electronic surveillance centre), know all of them, and know where they really live. 

However - some of the major companies and individuals have been making headlines recently; so they can be listed as fine examples of how Great Britain is increasingly becoming owned & run by aliens. Do you want to continue to give these businesses your custom?

It would be interesting to list all 123,000 non-doms and the companies they run. 
HMRC and GCHQ know them all - but won't tell. 
Please add non-dom names and stories, as comments below.

 The simple remedy to all the secrets, lies, bribes and falsifications is to publish all tax returns, with lists of those persons and organisations which are exempted from UK tax. For lasting tax justice - ABOLISH TAX PAYER CONFIDENTIALITY. 

 (PS - I have a grave plot reserved in Stockport - When Stockport declares independence, will that exempt me from UK tax?)

Where are these giant UK firms and their executives registered for tax purposes?

HSBC - CEO Stuart Gulliver - Non-Dom - claims to be Chinese & Panamanian

HSBC (UK) - CEO Antonio Simoes - Portuguese - tax status unknown

RBS - CEO Ross McEwan - New Zealander - Non-Dom.

LLOYDS BANK - CEO Horta Osorio - Portuguese - tax status unknown

BARCLAYS BANK - CEO Antony P Jenkins - tax status unknown.

THE SUN ** - Boss Rupert Murdoch - Australian, maybe taxed in the USA?

SKY TV ** - Boss Rupert Murdoch - Australian, maybe taxed in the USA?

DAILY MAIL (Bermuda) - Lord Rothermere - claims to be French non-dom.

THE TIMES ** - Boss Rupert Murdoch - Australian, maybe taxed in the USA?

THE TELEGRAPH - The Barclay twin brothers - Non-Dom, Channel Isles & Monte Carlo

BP - CEO Bob Dudley $5.2M - Appears to be UK taxed.

ARCADIA - Sir Philip & Tina Green - Non-Dom Monte Carlo & South Africa 

BBC + HSBC - BBC Chairman Rona Fairchild in 2014 was paid £500K by HSBC - Tax status?

 ICD - International Clothing Designs - CEO Richard Caring - Claims US Non-Dom  Status.

 UK PRIME MINISTER - David Cameron - wealth comes from offshore firms - Panama & Geneva

 ** NEWS CORPORATION - Is generally offshore.
Itv Plc (ITV:London) - CEO Adam Crozier £8.4M - appears to be all onshore !

**********

 Notes & Links:
Barclays will risk fresh controversy over bankers' pay next month when it hands its chief executive, Antony Jenkins, shares worth £4m.
The bank, which last year tapped its shareholders for £5.8bn of cash to bolster its financial strength, will make the official disclosure about Jenkins and other payments to senior executives in mid-March.
Lord Stanley Fink un-sues Ed Miliband. 
********** 
 Coutts said it appointed John Saunders as managing director for western European, American and resident non-domiciled clients.
Before joining the wealth division of Royal Bank of Scotland Group, Saunders worked for five years at Barclays Wealth.
He will be based in London and will report to Michael Mount, managing director, who heads the international client group based in the UK. (Reporting by Anannya Pramanick ) 
*********
BBC chairman faces questions over £10,000-a-day HSBC role
Telegraph.co.uk‎ - 18 hours ago
Rona Fairhead, the chairman of the BBC, was paid more than £500000 ... for her role as a non-executive director at HSBC after damaging ... when she was previously chairman of HSBC's audit committee. (a committee which failed to notice 100,000 tax evaders' accounts in Zurich)  Fairhead, who became chair of the BBC Trust last October, joined HSBC as a non-executive director in 2004 and was chair of its audit committee at the time covered by the HSBC files. She was paid a total of £513,000 by the bank last year.
http://www.theguardian.com/business/2015/feb/26/rbs-chief-executive-to-hand-back-1m-pay-incentive
RBS - CEO Ross McEwan - pay 2014 £2.7M  - Non Dom
Royal Bank of Scotland said today the Swiss arm of its private bank Coutts is being investigated by German authorities for allegedly helping wealthy clients evade tax.
Like Stuart Gullliver, Ross McEwan is "non-domiciled" resident in Britain. Unlike Gulliver he was born abroad.
"I am a proud Kiwi, but I work here and I pay taxes here in the UK" he told ITV News.
http://www.theguardian.com/business/live/2015/feb/25/greek-bailout-doubts-remain-extension-agreed-live-updates
MPs also expressed concern that the list leaked by whistleblower Herve Falciani has only led to one successful UK prosecution, out of more than 6,000 names.
Perhaps the most important point was made by Jesse Norman MP: how many of the people on this list are non-domiciled for tax purposes? HMRC wasn’t prepared to say -- despite, as Norman said, this might show whether the non-dom rules are being abused.
Lord Stephen Green Chairman HSBC 
Conservative MP Jesse Norman said:
“The anomaly is you could have worked for a UK bank for 40 years, you could have lived in this country for 20 years and you could still be non domicile for tax purposes.”
Non-Dom Gulliver was born in Derby, educated at a grammar school in Plymouth and Oxford University, runs Britain’s biggest bank from a UK office, has lived in the UK since 2003, and sent his children to boarding school in the UK. 
Chairman Douglas Flint (a former HSBC finance director)
Private Eye
DAILY TELEGRAPH OWNERS: HMRC had originally settled the Littlewoods dispute with a simple interest payment, but in 2007 the Barclay brothers, who spend much of their time in the tax havens of Monaco and their private island of Brecqhou in the Channel Islands, launched another legal claim demanding the settlement be paid out with compound interest. The brothers, owners of the Telegraph newspaper titles and the Ritz hotel, hired John Kay, a professor at London School of Economics, to testify that compound interest is the most appropriate measure to assess compensation.
Daily Mail owner Lord Rothermere's and Dave Monte Carlo Hartnett's deal to allow continuing Non-Dom status "saving Rothermere hundreds of millions in tax".
http://www.independent.co.uk/news/business/news/hsbc-scandal-philip-greens-friends-distance-billionaire-from-swiss-bank-investigation-10034283.html
Sir Philip Green’s associates have been quick to distance the retail billionaire from a widening scandal about tax avoidance in Switzerland.
Billionaire Richard Caring (Caring, who has non-dom tax status in the UK)  is alleged to have withdrawn 5 million Swiss francs (£3.5 million) in cash from his HSBC Geneva account.
The money is said to have originated from accounts in Monaco held in Green’s wife Tina’s name but controlled by Caring.

 BLOOMBERG:
 Antonio Horta-Osorio is in charge of Lloyds - 2014 pay £11.5M , 
Antonio Simoes is chief executive of HSBC UK and 
Jayne-Anne Gadhia is the boss of Virgin Money.
 B&M  (bargain stores) is now a Luxembourg- domiciled operation - 
Chairman Sir Terry Leahy holds shares via Cayman Isle co.
Stuart Gulliver, the chief executive officer of HSBC Holdings Plc, to park money in Switzerland through a Panamanian company puzzled lawyers who didn’t see a clear tax benefit from the move. He’s still domiciled in Hong Kong.
Chairman Douglas Flint 
WIKIPEDIA Non-Doms

Former 'non-doms'[edit]

http://www.theguardian.com/business/2015/feb/11/hsbc-files-reveal-how-uks-non-dom-tax-concession-is-being-exploited
Non-dom numbers exploded during Tony Blair’s New Labour premiership. They doubled from 67,600 to 137,000 between 1997 and 2007 as his colleague Peter Mandelson pronounced that the government was “intensely relaxed about people becoming filthy rich”, so long as they paid their taxes.
James Caan, one of the prominent stars of Dragons’ Den, the British TV programme featuring young entrepreneurs, is a non-dom
The Lewisohn banking family in London, for example, had the equivalent of more than £9m in Swiss accounts during 2006. Oscar Lewisohn was himself a non-executive director of HSBC’s Swiss bank until 2006. With a Danish passport, he was able to pass on the hereditary perk to his two UK-born sons.
A notable hereditary non-dom businessman is the Soho House club owner and Tory donor Richard Caring, who kept more than £100m in Switzerland. His father was an American GI who settled in London.
The Goldsmith family, heirs of the late financier Sir James Goldsmith, are the most high-profile group to have claimed hereditary tax breaks. Goldsmith distributed his £300m fortune offshore among 15 family members.
Potter family of London, who kept the equivalent of more than £70m in Switzerland. Thanks to their father, Psion computer firm founder David Potter’s South African background, the three sons can claim hereditary non-dom status, despite their British passports and London homes.
London resident Tetrapak heir Sigrid Rausing, claims non-dom status 
“It’s a really archaic tax law that various governments have said they will repeal,” said Richard Brooks, a former UK tax inspector. “Gordon Brown, who became prime minister, famously said he was going to end these tax breaks in government and he never did.”

 FT - High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/2/9545f01c-be78-11e4-8036-00144feab7de.html#ixzz3TJmtEXP8The “non-domicile” regime was originally introduced in 1799 to shelter those with foreign property from the UK’s newfangled wartime taxes. More than two centuries later, it still allows those who live in Britain to cite another country as their real domicile. Unlike other residents, they are only obliged to pay British tax on their overseas earnings if they remit that money to the UK. 

 Daily Mail -  http://www.dailymail.co.uk/news/article-2133729/Did-PMs-300-000-come-family-tax-haven-investments-Inherited-fortune-built-offshore-accounts.html
 Luxury leather goods firm Smythson, where Mrs Cameron is a creative consultant, is owned through a holding company in Luxembourg and linked to a secretive trust in the Channel Island of Guernsey, another well-known tax haven.

Read more: http://www.dailymail.co.uk/news/article-2937589/Awkward-Luxury-leather-goods-firm-Smythson-PM-s-wife-Samantha-Cameron-works-based-tax-haven.html#ixzz3TJodzHom
Follow us: @MailOnline on Twitter | DailyMail on Facebook  

David Cameron inherited a £300,000 fortune that may have been built up thanks to his family’s investments in tax havens.

The Prime Minister’s late father, Ian Cameron, whose wealth was put at £10 million, ran legal offshore accounts in Panama City and Geneva.
When he died in 2010 he left £2.74million, from which the Prime Minister personally received £300,000.
However, the £2.74million covers assets in England and Wales only and it is unclear how much the shares in offshore accounts are worth and which family members now own them


Read more: http://www.dailymail.co.uk/news/article-2133729/Did-PMs-300-000-come-family-tax-haven-investments-Inherited-fortune-built-offshore-accounts.html#ixzz3TJpJOmFW
Follow us: @MailOnline on Twitter | DailyMail on Facebook



Posted by at
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)