Non doms

One of the first things many millionaires spend their money on is tax advice. How to make sure you keep as much of your wealth as you can.

This week it emerged that even a 34 year old man born in Britain, educated in Britain, and standing for the UK Parliament could claim to be non-domiciled in the UK for tax purposes.

Prospective Conservative parliamentary candidate Zac Goldsmith, has an estimated fortune worth hundreds of millions. This week he said he was giving up his non-dom status. But how did he have it in the first place?

And if he can do it, can the rest of us do the same?

Mike Warburton from accountants Grant Thornton explained how it works.

This item was first broadcast on Radio 4's Money Box on Saturday, 5 December 2009