Before the election, the former Conservative Party deputy chairman finally came clean – admitting he avoided paying tax on his vast offshore fortune. He promised to end his non dom status.
Similarly, Labour’s Lord Paul agreed at around the same time to end his non dom status and start paying UK taxes.
But five other peers, including Architect Norman Foster, have resigned to protect their ‘non-dom’ tax status.
Lord Foster of Thames Bank was elevated to the peerage in 1999 and now lives much of the time in Switzerland.
The architect, whose famous creations include the Gherkin in the City of London, sits as a crossbencher, meaning he is not affiliated to any party.
Of the other four who have decided to stand down, three are Conservatives.
Lord Laidlaw - a Monaco-based peer who sought treatment for sex addiction two years ago after hosting parties with prostitutes - will stand down. He has donated £4million to the Tories.
See the full article from “Daily Mail”
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