Paradise Papers

Part of the debate – in the House of Commons at 3:39 pm on 6th November 2017.

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Photo of Mel Stride Mel Stride Financial Secretary to the Treasury and Paymaster General 3:39 pm, 6th November 2017

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.