Sunday, November 29, 2009
A housing loophole for the super-rich
Zac Goldsmith, the green adviser to David Cameron and prospective Tory MP, has admitted that he claims non-domicile tax status, enabling him to avoid huge sums of tax on his estimated Â£200m fortune. He can legitimately escape paying tax on his inheritance, much of which is held offshore. In an unusual arrangement, some of his British properties are held offshore. Goldsmithâ€™s 300-acre ecological farm in Devon and a Â£7.75m house in Richmond are both owned by companies based in the Cayman Islands. A spokesman for Goldsmith said the homes were â€œmade availableâ€ to him by a trust set up by his father. [More analysis in the comments below].