Bambos Charalambous
Main Page: Bambos Charalambous (Labour - Southgate and Wood Green)Department Debates - View all Bambos Charalambous's debates with the HM Treasury
(7 years ago)
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Bambos Charalambous (Enfield, Southgate) (Lab)
Will the Minister confirm what justification there was for voting against Labour’s amendments to the Finance Bill last week that sought to curb the number of individuals claiming non-dom status and improve transparency with regards to offshore trusts?
Mel Stride
If the hon. Gentleman is referring to the trust arrangements for those who become deemed domiciled as a consequence of this Government deciding to put an end to permanent non-dom status—something that his party never did in its 13 years in office—he will know that all is not quite as the Labour party presents it. Any funds coming out of such trusts will, when they are remitted, fall due to tax by the deemed domiciled individual exactly as they would for any other UK citizen.