Property moguls Simon and
David Reuben have been named as the second richest people on a list of wealthy
Britons who control UK
businesses but who normally reside in low tax jurisdictions.
The report compiled by The
Times newspaper says that a third of British billionaires have moved
to tax havens over the last decade. It says that the Reuben Brothers are
amongst 6,800 Britons controlling 12,000 UK firms from low tax
jurisdictions. It awards number one spot on the list to chemicals entrepreneur
While choosing its words
carefully as, of course, this kind of arrangement is by no means illegal or
unusual the newspaper appears to be provoking further debate about whether
wealthy people should be able to control British assets or influence politics while
not paying personal income tax because they are not domiciled here.
An interesting conundrum to
muse on might be, if all the billionaires on the list paid UK tax, would there be so many sizable UK businesses
for them to control.
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