Ashcroft saved £127m in tax in a decade - Lib Dems

Laura Miller
clock

Lord Ashcroft has saved more than £127m in British tax since he became a member of the House of Lords, according to estimates from Liberal Democrat research.

The annual tax-saving of the Tory party's biggest donor, who took his seat in the Lords in 2000 and so has been involved in setting UK law for a decade, is conservatively estimated to be £12.76m. Ashcroft, who has given millions of pounds to bankroll Tory campaigning in marginal seats, confirmed yesterday he was non-domiciled for tax purposes after years of speculation. Liberal Democrat shadow home secretary, Chris Huhne says: "Anyone who wants to pass laws in this country should pay this country's full taxes and not hide behind the special offshore status of non-doms. "Non-doms h...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax Planning

Demand for IHT mitigation increases as more fall into threshold

Demand for IHT mitigation increases as more fall into threshold

‘Asset prices and nil rate band freezes are creating a perfect storm’

Isabel Baxter
clock 03 April 2024 • 1 min read
Upcoming CGT changes prompting UK investors to create wealth plans

Upcoming CGT changes prompting UK investors to create wealth plans

More than half want to secure their current and future investment gains

Isabel Baxter
clock 02 April 2024 • 2 min read
Majority of advisers think NI cut will not boost pensions savings

Majority of advisers think NI cut will not boost pensions savings

Only one in ten think people will put the extra cash into pensions savings

Isabel Baxter
clock 11 March 2024 • 1 min read