The UK taxman will chase thousands of super-rich Britons living abroad as tax exiles after the Court of Appeal has ruled that Robert Gaines-Cooper, who lived in the Seychelles since 1976, should not be excused from a £30 million.
As per ruling, Robert Gaines-Cooper had not cut his ties with the UK, though he had abided by the rules to spend fewer than 91 days in the country.
The Court of Appeal said that the UK had remained the centre of gravity of Robert Gaines-Cooper’s life and interests, despite the fact that he spent a lot of time in 1976.
The HM Revenue & Customs said that after the ruling, worried tax exiles began calling to know whether they also face tax bills.
Speaking on the issue, the HMRC added, "We are pleased that the court of appeal has confirmed that HMRC's interpretation of its guidance on residency.”
Robert Gaines-Cooper’s London-based lawyer Peter Vaines said that his client was disappointed with the ruling and would appeal against the ruling.
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