Zac Goldsmith may have finally talked about his tax arrangements in an interview, but that doesn’t mean all the questions are answered.
Yesterday, Political Scrapbook asked the London Mayoral candidate when he would release his tax information, but there was no answer.
Goldsmith keeps saying he pays tax in the UK on his UK income. But he won’t reveal to what extent he and his family have benefited from offshoring assets in the Cayman Islands.
Now, London Labour have posed six more questions for Goldsmith
1. Zac Goldsmith has said he gained “very few benefits” from having non-domiciled tax status. Exactly what were the benefits that he did gain?
2. Zac Goldsmith has said “virtually all” of his income comes to the UK where he pays tax on it. What percentage of his income came to the UK during the years he was a non-dom, and what percentage of his income currently comes to the UK?
3. For the period Zac Goldsmith was classed as a non-dom, exactly how much tax did he avoid paying due to that status?
4. Why has Zac Goldsmith owned property bought through a Cayman Islands-based company called Holmead Investments Ltd? Why does he use offshore accounts and companies to buy property? Which assets are offshored – do they include shareholdings? What tax advantages has this given him?
5. Having non-dom status means you can receive income from abroad as a capital gain, tax-free. While he was a non-dom, did Zac Goldsmith ever receive any income as a capital gain in the UK?
6. How much potential UK tax revenue has been lost due to the Goldsmith family trust being based offshore rather than in the UK?
We’re looking forward to asking Goldsmith’s team the answers to these questions.
After all, they claim that they are all about transparency.