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Sajid Javid: I was non-dom for six years but now pay tax in full
2022-04-11 00:00:00.0     每日电讯报-英国新闻     原网页

       

       Sajid Javid has admitted that he paid no UK tax on his overseas earnings for six years while he was a banker earning up to £3 million a year.

       The Health Secretary said that between 2000 and 2006 he claimed non-dom status, which he was entitled to as his father was born in Pakistan.

       In a statement on Saturday night, he also said that he made money from an offshore trust while working at Deutsche Bank 20 years ago, which he has since collapsed when he became a minister.

       Last week Mr Javid said that there was a “moral” duty for people to pay more tax in the form of the rise in National Insurance to pay for the NHS and social care.

       He told the Sunday Times: He said: “Prior to returning to the UK and entering public life, some of my financial investments were based in an offshore trust.

       “While this was an entirely legitimate arrangement, on becoming a minister in 2012 I decided to voluntarily collapse that trust, repatriate all assets to the UK and pay 50 per cent income tax on those assets.

       “This approach deliberately incurred the heaviest possible tax burden, and offset any accrued benefits from the previous trust arrangement, but I believed it was the right thing to do.”

       However aides did not clarify which country he was domiciled in, meaning that some of his assets could have been located in a tax haven, or a country that did not require him to pay tax at all.

       Before becoming an MP in 2010, Mr Javid travelled the world in his job while working in international finance, including New York where he paid US taxes between 1992 and 1996.

       In 2006 he moved to Singapore with his family and was no longer a UK tax resident, later giving up his non-dom status when returning to Britain in 2009.

       He later went on to become Chancellor between July 2019 and February 2020 before he resigned amid reports that Boris Johnson had asked him to sack his advisors.

       Insisting that he had been domiciled in the UK throughout his “entire public life” Mr Javid said he wanted to be more open about his finances given the “heightened public interest” in the subject.

       Rishi Sunak and his wife, Akshata Murty, have come under criticism over their family’s financial situation after it was revealed that she has non-domiciled status.

       She has since agreed to pay more tax in the UK but refused to give up her non-dom status.

       The pressure has also led to calls for the Chancellor to reveal the details of his private investments amid concerns it could lead to a conflict of interests.

       Mr Sunak is the first Chancellor to have a registered holding in an investment fund since ministerial interests were recorded in 2009.

       On Sunday, one Conservative minister suggested that there may be reforms needed to the tax system in light of the slew of revelations about the financial interests of ministers and their families.

       Kit Malthouse, the policing minister, told Times Radio: “There is a question about how the integrity of our tax system and the privacy of our tax system is maintained.

       “That may need to be looked at.”

       


标签:综合
关键词: trust     Chancellor     minister     non-dom status     Sajid Javid     more tax     Sunak    
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