Tax exile: the refuge of Britain's richest non-doms

The 1970s was the decade of big flares, oversized collars and lumpish motors. They also became the decade when "non-domiciled" meant what it said. To pay less tax, some of Britain's richest upped sticks for less fiscally demanding surroundings.

As Britain endured economic decline and a balance of payments crisis, the shadow Chancellor, Denis Healey, may never have actually promised to tax the rich until the "pips squeak" in 1972 but a year later he did guarantee there would be "howls of anguish".

The drummer Dave Clark, whose eponymous five-piece led the charge of the British musical invasion of 1960s America was first to flee. Others followed.

The revelation of the ruinous state of the Rolling Stones' finances in the early 1970s presaged not only a move to France but perhaps their finest work: Exile on Main Street.

Michael Caine spent eight years as a tax exile and the former James Bond, Roger Moore, opted for Monaco, a des res that continues to appeal to high earners, among them the fashion tycoon Sir Philip Green, the ex-Beatle Ringo Starr and racing drivers Lewis Hamilton and David Coulthard.

Switzerland, tax haven of the drummer Phil Collins, remains an equally popular redoubt.

"People who are UK based have always been able to get out of tax by simply leaving the country. You will find pop stars and film stars throughout the system," explained Mike Warburton, the senior tax partner at Grant Thornton.

"But what reversed the so-called brain drain of the late Seventies was the arrival of the Thatcher government in 1979," he said.

Today, more than 10 years after the election of Tony Blair, tax paid on income and investment earnings is capped at 40 per cent, the non-doms have arrived in force and the City has surfed the stock market wave. But then Alistair Darling intervened. Forty years after Mr Healey, a 1970s debate about tax is reignited. Someone should ask DCI Gene Hunt for his views.

Start your day with The Independent, sign up for daily news emails
Have you tried new the Independent Digital Edition apps?
News
ebooksAn unforgettable anthology of contemporary reportage
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

Recruitment Genius: Business Development Executive / Digital Marketing Executive

£26000 - £35000 per annum: Recruitment Genius: A luxury beauty house with a nu...

Recruitment Genius: Housekeepers - Immediate Start

£8 per hour: Recruitment Genius: This company are currently recruiting new exp...

Recruitment Genius: Head Concierge

£25000 - £28000 per annum: Recruitment Genius: This award winning Property Man...

Recruitment Genius: Content, SEO and PPC Executive

£20000 - £25000 per annum: Recruitment Genius: A fantastic opportunity has ari...

Day In a Page

On your feet! Spending at least two hours a day standing reduces the risk of heart attacks, cancer and diabetes, according to new research

On your feet!

Spending half the day standing 'reduces risk of heart attacks and cancer'
Liverpool close in on Milner signing

Liverpool close in on Milner signing

Reds baulk at Christian Benteke £32.5m release clause
With scores of surgeries closing, what hope is there for the David Cameron's promise of 5,000 more GPs and a 24/7 NHS?

The big NHS question

Why are there so few new GPs when so many want to study medicine?
Big knickers are back: Thongs ain't what they used to be

Thongs ain't what they used to be

Big knickers are back
Thurston Moore interview

Thurston Moore interview

On living in London, Sonic Youth and musical memoirs
In full bloom

In full bloom

Floral print womenswear
From leading man to Elephant Man, Bradley Cooper is terrific

From leading man to Elephant Man

Bradley Cooper is terrific
In this the person to restore our trust in the banks?

In this the person to restore our trust in the banks?

Dame Colette Bowe - interview
When do the creative juices dry up?

When do the creative juices dry up?

David Lodge thinks he knows
The 'Cher moment' happening across fashion just now

Fashion's Cher moment

Ageing beauty will always be more classy than all that booty
Thousands of teenage girls enduring debilitating illnesses after routine school cancer vaccination

Health fears over school cancer jab

Shock new Freedom of Information figures show how thousands of girls have suffered serious symptoms after routine HPV injection
Fifa President Sepp Blatter warns his opponents: 'I forgive everyone, but I don't forget'

'I forgive everyone, but I don't forget'

Fifa president Sepp Blatter issues defiant warning to opponents
Extreme summer temperatures will soon cause deaths of up to 1,700 more Britons a year, says government report

Weather warning

Extreme summer temperatures will soon cause deaths of up to 1,700 more Britons a year, says government report
LSD: Speaking to volunteer users of the drug as trials get underway to see if it cures depression and addiction

High hopes for LSD

Meet the volunteer users helping to see if it cures depression and addiction
German soldier who died fighting for UK in Battle of Waterloo should be removed from museum display and given dignified funeral, say historians

Saving Private Brandt

A Belgian museum's display of the skeleton of a soldier killed at Waterloo prompts calls for him to be given a dignified funeral