Britain's moneyed elite still enjoying Edwardian-era tax break

London

THEY are among the British moneyed elite: the head of the nation's largest bank, a billionaire hedge fund manager and the owner of some of London's most luxurious nightclubs. Yet for tax purposes, they are not entirely British.

Thanks to a law from when Britain had an empire, a growing number of the rich and internationally mobile here do not have to pay tax on their foreign income or assets, only on the money they earn in Britain. They are the "non-domiciled", or non-doms.