Sajid Javid, health secretary drawn into the “non-dominance” controversy after admitting he had status for six years while a banker, allowing him to legally avoid tax on overseas earnings.
senior minister’s office former chancellor, gave a statement to The Sunday Times saying that he did not have madam status, presumably on grounds that his father was born in Pakistan.
He also confessed to owning wealth in offshore trust until it becomes minister in 2012, liquidate it and pay 50% tax on the wealth he brought to Britain.
“I lived in United Kingdom for tax goals throughout my public life, he said. “Given the increased public interest in these questions, I want be open about my past tax statuses. My career before politics was in international finance. For nearly two decades, I have constantly traveled through world for work”.
Before becoming an MP in In 2010, according to Javid, he was a non-dominant for several years, which gave up in 2009.
“For some of in those years I was homeless for tax purposes, but I have paid all applicable UK taxes on my income, and have always done so,” he said. “In 2006 I moved to Singapore. with my family and therefore was no longer a UK tax resident. In 2009, upon returning to the UK, I became a tax resident. in United Kingdom again and also preselected give up my status without permanent residence, making the UK my “domicile” of choice’.”
He added: “Before returning to the UK and entering public life, some of my financial investments were founded in offshore trust. Although it was a perfectly legal arrangement, on becomes minister in 2012 I decided to voluntarily destroy this trust, repatriate everything assets to the UK and pay 50% income tax on those assets.
“This approach has deliberately brought upon itself the hardest possible tax burden and offset any accumulated benefits from a previous trust arrangement, but I felt I did the right thing.”
As chancellor before Rishi Sunak, Javid boasted that the conservatives introduced more over 100 measures to “combat aggressive tax evasion” in tax payment procedure system “easier and, most importantly, more honest.”