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Lingerie tycoon looks set to make IOM her new home


Aristotle

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40 minutes ago, NoTail said:

I wonder if HMRC are counting her days in the UK?

I thought to remain or be a member of the HoL  one is required to be tax resident in the UK and not claim non dom status ( even if you are entitled to ). New rules after it was disclosed a few Lords were opting for their non dom status a few years ago. 

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20 minutes ago, Anyone said:

I thought to remain or be a member of the HoL  one is required to be tax resident in the UK and not claim non dom status ( even if you are entitled to ). New rules after it was disclosed a few Lords were opting for their non dom status a few years ago. 

It seems to be the other way about:

Part 4 of the Constitutional Reform and Governance Act 2010 provides that members of the House of Commons (MPs) and House of Lords (Peers) are deemed resident, ordinarily resident and domiciled in the UK for the purposes of income tax, inheritance tax and capital gains tax.

You're resident for tax if you're a member.  Whether this is actually enforced is another matter and of course you can do all sorts of things with offshore trusts.

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Her attendance may not be any worse than othe 'Lords', they are only paid for attendance, some 300 quid a day?

A lot of failing MPs are given a seat in the Lords, rather like our Legco, perhaps to give them an extra pension.

That doesn't mean she is right, just that she is probably not any different to the rest of the Lords???

An ousted MP could go to the Lords, not do a thing but show up three days a week, 900 quid for nothing!!!

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On 12/27/2023 at 3:03 PM, NoTail said:

I wonder if HMRC are counting her days in the UK?

For UK  tax residency its the nights in the UK which is one of the factors which is considered 

Which is why many island residents who have business meetings etc in London like to get back to the IOM on the same day.

Edited: looks like rules have changed now and even days are included . So my post is incorrect 

Edited by mad_manx
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9 minutes ago, mad_manx said:

For UK  tax residency its the nights in the UK which is one of the factors which is considered 

Which is why many island residents who have business meetings etc in London like to get back to the IOM on the same day.

I hope you are not giving UK tax advice as I believe that rule changed a couple of years ago. Any part of a day now counts whereas it used to be if you were in the UK at midnight. Staying overnight in the UK would now count as 2 days.

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2 minutes ago, Garteth T said:

I hope you are not giving UK tax advice as I believe that rule changed a couple of years ago. Any part of a day now counts whereas it used to be if you were in the UK at midnight. Staying overnight in the UK would now count as 2 days.

Getting to a meeting in England and back the same day is now a fond memory for people living in the Isle of Man.

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3 minutes ago, Garteth T said:

I hope you are not giving UK tax advice as I believe that rule changed a couple of years ago. Any part of a day now counts whereas it used to be if you were in the UK at midnight. Staying overnight in the UK would now count as 2 days.

You are correct .. looks like they have changed the rules after covid 

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