Conservative peer Lord Ashcroft: I am a non-dom

By James Kirkup, Political Correspondent Published: 9:20AM GMT 01 March 2010

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However, he signalled that he will give up his non-domiciled standing and move all of his monetary affairs inside of the UK taxation complement if the Conservatives win power.

Lord Ashcroft has been underneath heated vigour from Labour to explain his taxation status.

Labour indicted of arrange pomposity Ashcroft"s explanation is great headlines for Cameron David Cameron: I"m fit and ready to run Britain Independence for schools inside of months of Tory win Cameron denies "squeaky bum" claims as check lead shrinks Tory donor Lord Ashcroft faces taxation quandary underneath new manners

In a matter on his website today, he pronounced that he pays income taxation on his gain in the UK, but not on gain elsewhere. Most of Lord Ashcrofts commercial operation interests are thought to be formed in Belize.

Lord Ashcroft became a Conservative counterpart in 2000. Before usurpation the peerage, he gave promises to William Hague, afterwards the Tory leader, about his taxation status.

Those undertakings, purebred with the Cabinet Office, have been tip until now.

Today, forward of a Freedom of Information recover by the Cabinet Office, Lord Ashcroft suggested the promises he gave in 2000.

He pronounced that he had since undertakings to "take up permanent chateau in the UK again" by the finish of that year and to renounce as Belize"s permanent deputy to the UN.

In his statement, Lord Ashcroft said: "Throughout the last ten years, I have been dogmatic all my UK income to HM Revenue. My accurate taxation standing thus is that of a "non-dom"."

Non-doms are rich British residents with a clever tie to an additional country, who compensate UK taxation usually on gain they have in the UK.

Lord Ashcroft remarkable that David Cameron, the Tory leader, has pronounced that all peers should be UK proprietor and domiciled for taxation purposes. A Tory supervision would shift the law to anathema non-coms from the Lords.

"As for the future, whilst the non-dom standing will go on for most people in commercial operation or open life, David Cameron has pronounced that any one sitting in the legal body - Lords or Commons - contingency be treated with colour as proprietor and domiciled in the UK for taxation purposes," Lord Ashcroft said.

Signalling his goal to shift his status, Lord Ashcroft said: "I determine with this shift and design to be sitting in the House of Lords for most years to come."

Anticipating Labour attacks, Lord Ashcroft forked out that dual of Labours largest donors, Lord Paul and Sir Ronald Cohen, are additionally non-doms.

Mr Cameron is "pleased" with Lord Ashcroft"s declaration, the Conservatives said.

A Conservative Party orator said: "David Cameron has pronounced that he respects people"s remoteness but he is gratified Lord Ashcroft has done this decision.

"It is transparent thus that Lord Ashcroft has the same standing as multiform Labour donors together with Lord Paul - not long ago allocated to the Privy Council on the letter of reference of Gordon Brown"s Government."