Super-rich tax-dodging banker – meet New Labour’s new poverty adviser

I recall reading about Ms Moses appointment as Brown’s adviser on poverty – and her support for dubious “anti-poverty” policies – in The Morning Star, but here’s the write-up in the Daily Mail:

A key Government adviser on poverty has been revealed as an ultra-rich “non-dom” who is able to avoid paying thousands of pounds a month in tax.

Multi-millionaire Jennifer Moses has taken out a mortgage on her £10million North London mansion using an offshore bank based in the Isle of Man.

The tactic allows the U.S.-born former investment banker to maintain her non-domiciled status and benefit from enormous tax breaks.

It is thought that she and her husband Ron Beller – a hedge fund manager – could save tens of thousands of pounds a year in tax by exploiting the loophole, although there is no suggestion they have done anything illegal.

Miss Moses, 45, joined Number 10 last month as head of special projects, developing policies designed to alleviate poverty by improving social mobility.

Critics of the appointment have argued that the mother of three might find it difficult to empathise with the poor.

She is a former managing director at the famously high-paying investment bank Goldman Sachs. Her husband is estimated to be worth £20million.

Such is Miss Moses’s wealth that her former personal secretary, Joyti De-Laurey, was able to steal £1.2million from her without her noticing.

At the secretary’s trial, it was revealed that Miss Moses spent £500,000 on her 40th birthday party and that her husband spent £17,000 on wine in a single year.

The court also heard how the couple’s four-storey Hampstead home is so large that they frequently email each other rather than shout down the banisters.

Miss Moses and her husband bought the mansion when they settled in London in 1999, having lived in New York, Tokyo and Hong Kong.

In 2004, they renewed their mortgage on it, taking out a loan with Barclays Private Clients International, based in the Isle of Man. Using an offshore bank means the couple can remain legally “non-domiciled” in the UK even if they live here permanently.

And by keeping their money outside the UK, non-doms can escape paying income and capital gains tax. In Miss Moses’s case that could amount to a huge amount of money every year.

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One Response to “Super-rich tax-dodging banker – meet New Labour’s new poverty adviser”

  1. Wonko’s World » Blog Archive » Says:

    […] Charlie Marks, one of the only left wingers in England that doesn’t need their head looking into (surgically), has some background information on Liebour’s new poverty adviser. […]


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