A tale of two cities

Monaco marina

Home is where the green stuff is.

The domicile rule can be a tax dodger’s best friend. Most people who live in the UK are taxable on their worldwide income, but if you live here but can show that this is not your ‘natural home’ then you can claim to not be domiciled in the UK.

In that case you’re only taxed here on what you earn in or bring to the UK, and if you’re rich and can place most of your income offshore that means the UK is about as good a tax haven as the world has to offer.

Canary WharfThe abuse is in making sure that any cash that is sent to the UK is not considered to be income – so no tax at all is paid, when even under the domicile rule it should be.

Canary Wharf to Monaco Marina: a popular commute home for city-slicking non-doms.